The EU's Markets in Crypto-Assets regulation (MiCA) has redefined crypto trading in Europe in 2026. Platforms serving European users must hold a Crypto Asset Service Provider (CASP) authorisation or operate under transitional provisions. This review examines five prominent exchanges: Kraken, CEX.IO, Coinbase, Bitpanda, and OKX, focusing on their regulatory standing, SEPA integration, fees, and asset offerings.
Kraken: Deep Regulation and Broad Coin Selection
Kraken, founded in 2011, was among the first to offer a BTC/EUR pair. It holds a MiCA CASP authorisation via Ireland and over 50 global licences. With 450+ cryptocurrencies, free SEPA deposits, OTC trading, staking, and proof-of-reserves audits, it appeals to experienced traders. Its taker fee of 0.16% is the lowest in the group, but maker fees (0.26%) are slightly higher than CEX.IO's entry rate. Kraken does not offer a crypto debit card for EEA users.
CEX.IO: Wide SEPA Coverage and Competitive Fees
CEX.IO supports SEPA Instant transfers across 34 European countries, settling in under 10 seconds. Its entry-level fee of 0.25% undercuts Coinbase's 0.60% taker rate. The platform lists 310+ coins and offers CEX.IO Earn for passive yield. However, full MiCA CASP authorisation is still pending; it currently operates under a VASP registration from the Bank of Spain and transitional provisions. USDT and DAI are restricted for EEA users under MiCA.
Coinbase: The Compliance Benchmark with High Fees
Coinbase became the first US-based exchange to obtain full MiCA CASP authorisation from CSSF Luxembourg in June 2025, and also holds BaFin registration in Germany. It features 200+ cryptocurrencies and a beginner-friendly interface. However, its taker fee of 0.60% is the highest among the five, and its coin selection is the narrowest. No crypto debit card is available in Europe.
Bitpanda: Europe's Homegrown Giant with the Widest Asset Range
Bitpanda, founded in Vienna in 2014, was built exclusively for the European market. It holds MiCA authorisations in Austria, Germany, and Malta, plus 16 European licences. Boasting 650+ assets—the largest selection in this comparison—Bitpanda also offers stocks, precious metals, and other traditional assets, appealing to diversified investors.
OKX: High Coin Count, Limited Details
OKX lists 500+ cryptocurrencies, second only to Bitpanda in this group. However, specific information on its compliance and features was not fully provided in the source material. European users should monitor its CASP authorisation progress.
In summary, European traders in 2026 should prioritise MiCA compliance when choosing an exchange. Kraken and Coinbase have secured official authorisation, while CEX.IO and Bitpanda are advancing toward full compliance. For low fees, Kraken and CEX.IO stand out; for asset variety, Bitpanda and OKX lead. The right choice depends on individual trading needs, regulatory priorities, and fee tolerance.