Kraken Launches €1M Prize Draw as MiCA Deadline Sparks European Crypto Bonus War
Summary
Kraken has launched a €1 million prize draw for EEA users who deposit euros between 19 June and 31 July, directly competing with similar campaigns from Bybit, OKX, and Coinbase. The promotions come as the MiCA transitional deadline on 1 July cut off unlicensed exchanges like Binance from onboarding in the region, creating a scramble for displaced users. Kraken's campaign is part of a broader shift among licensed exchanges from securing authorization to aggressive customer acquisition, using incentives that are banned for CFD brokers under ESMA rules. This marks a new phase of competition in the European crypto market, with Kraken positioning to capture market share as the regulatory landscape solidifies.
This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Finance Magnates.