Kraken Prepares for MiCA Deadline with €1M Deposit Sweepstakes and Zero Fees

July 1st marks a crucial deadline for European cryptocurrency exchanges as MiCA, the first common regulatory framework, comes into effect. Exchanges without CASP licenses will be forced to shut their doors to EU customers. Kraken has already secured its position with licenses from the Central Bank of Ireland, making it a safe haven for users.

To welcome newcomers and alleviate concerns, Kraken is offering two promotions: the €1M Deposit Sweepstakes and zero Futures fees on Kraken Pro for 30 days. In the sweepstakes, every euro deposited between June 19 and July 31 counts as an entry, with a maximum of 4 billion entries possible.

The contest will run throughout the EEA, excluding the UK, and the winner will be notified by email within 14 days. A condition for eligibility is that entrants must have completed at least intermediate KYC verification before distribution.