Points of Focus

• Kraken launched a €1 million prize draw for EEA users ahead of MiCA’s July 1 deadline.
• The campaign aims to attract traders as unlicensed crypto firms face an EU market exit.
• Only about 210 of 1,200+ previously registered crypto firms have secured MiCA approval.

Kraken has launched a €1 million prize draw for European customers as crypto exchanges prepare for a regulatory deadline that could reshape competition across the region. 

The campaign comes days before the European Union fully enforces its Markets in Crypto-Assets (MiCA) framework on July 1, when platforms operating without authorization risk losing access to EU clients.

€1,000,000. One prize draw. The more you move, the more you're in.

Switch to Kraken Europe's MiCA and MiFID licensed exchange and every euro you deposit earns an entry.

Switch now ⤵️https://t.co/W0VgPZ9X2c

*T&Cs apply pic.twitter.com/WOm0kVdGpe

— Kraken (@krakenfx) June 19, 2026

Kraken targets EU traders before MiCA deadline

Eligible users residing in the European Economic Area can enroll in the campaign and receive one entry into the prize draw for every euro deposited on Kraken through July 31. The promotion, which began on June 19, is open to both new customers and existing users funding accounts through the Kraken app or Kraken Pro.

Kraken obtained MiCA authorization from the Central Bank of Ireland in June 2025 and also holds a Markets in Financial Instruments Directive (MiFID) license for derivatives and an E-money license. The exchange said it has operated since 2011, publishes independently verified proof-of-reserves (POR) reports every quarter, and offers access to more than 600 digital assets alongside euro payment rails.

Kraken’s campaign arrives as traders review whether their existing platforms will continue serving European customers after MiCA’s transition period expires.

MiCA rules could reshape Europe’s crypto market

The European Securities and Markets Authority has said there will be no further extensions beyond July 1, requiring firms without authorization to wind down operations or move customers to compliant providers. Data compiled by industry participants indicate that about 210 firms have obtained MiCA approval out of more than 1,200 crypto businesses previously registered across Europe, pointing to a much smaller group of companies able to operate under the new framework.

Reuters reported this week that Binance’s MiCA application in Greece is expected to be rejected, although the exchange disputes that assessment. Binance said it hasn’t received formal notice from regulators, employs more than 1,500 compliance professionals globally, and plans to provide another update before June 30.

Companies securing MiCA approvals have also stepped up messaging ahead of July 1. SwissBorg recently urged users to verify whether their trading platforms hold authorization, while Ripple announced preliminary approval in Luxembourg that would allow it to offer crypto services across all 30 EEA countries once final authorization is granted.

Kraken’s campaign will remain open until July 31, one month after MiCA’s transition period expires and exchanges without authorization are expected to stop serving EU customers.