KuCoin Taps Former LSEG Executive to Lead MiCA Expansion

Kiu will head a compliance-first push under the EU’s Markets in Crypto-Assets Regulation following the exchange’s successful licensing in Austria. Meanwhile, prediction markets platform Kalshi opened a new Washington, D.C. office and hired seasoned policy veterans to strengthen engagement with federal and state regulators, even though it still faces legal challenges over its sports-related contracts in several US states. Kalshi operates as a CFTC-regulated exchange and is currently the world’s largest prediction market by monthly trading volume.

KuCoin Hires Former LSEG Executive

KuCoin appointed Sabina Liu, a former executive at London Stock Exchange Group, to lead its European business as managing director of KuCoin EU. This is a big step in the exchange’s expansion under the European Union’s Markets in Crypto-Assets Regulation (MiCA). 

Based in Vienna, Liu will oversee KuCoin’s European operations after the exchange’s successful acquisition of a crypto asset service provider license in Austria, which enables it to passport regulated services across the EU.

(Source: KuCoin)

Liu previously led KuCoin’s institutional business and spent more than a decade at LSEG working with global investment banks and cross-border trading clients. She describes the MiCA license as a major milestone that provides KuCoin with a unified regulatory framework in a region that is characterized by mature financial markets, rising crypto adoption, and expanding demand across stablecoins, payments, and wealth management products. 

Under her leadership, KuCoin EU plans to position itself as a regulated alternative in a very competitive European market where larger exchanges already dominate trading volumes. Liu explained that she will adopt a compliance-first strategy designed to differentiate KuCoin through regulated, transparent services rather than growth driven purely by volume. This approach comes against the backdrop of heightened regulatory scrutiny across the industry, as exchanges including Binance move to secure MiCA approvals in jurisdictions like Greece.

The appointment also follows a pivotal moment for KuCoin globally. Less than a year ago, its parent company, Peken Global Limited, pleaded guilty in a US criminal case involving unlicensed money transmission and anti-money laundering failures, agreeing to financial penalties and a temporary exit from the US market. 

MiCA also prompted KuCoin to recalibrate its listing strategy. While historically known for supporting a wide range of altcoins and early-stage tokens, the European arm will apply stricter listing procedures and risk assessments to balance innovation with regulatory expectations. 

At the same time, KuCoin plans to translate its MiCA authorization into real-world use cases, including its role as exclusive crypto exchange and payments partner for Tomorrowland Winter and Tomorrowland Belgium from 2026 to 2028. Liu said the goal is not marketing hype, but testing compliant crypto payments in mainstream environments.

Kalshi Expands Washington Presence

Other crypto-related companies are also expanding their teams. Prediction markets platform Kalshi opened a new office in Washington, D.C., as part of its deeper push into federal and state policy engagement. The company said the move is designed to strengthen its strategic lobbying efforts with US lawmakers and regulators at a time when its business is growing but facing uneven legal treatment across states.

As part of the expansion, Kalshi appointed John Bivona as its first head of federal government relations. Bivona is a veteran political strategist with more than two decades of experience and previously served as the first White House liaison at the Department of Homeland Security during the Biden administration. Kalshi also hired Blake Bee to lead state-level policy efforts. Bee previously worked at Amazon, where he managed engagement with state attorneys general.

Press release from Kalshi

Kalshi operates as a Commodity Futures Trading Commission-regulated exchange and is currently the world’s largest prediction market by monthly trading volume. The platform reported $6.3 billion in volume in December, far outpacing rival Polymarket, which recorded $2.28 billion. 

Much of Kalshi’s recent growth began in September of 2025 alongside the start of the National Football League season. According to CEO Tarek Mansour, Kalshi generated roughly $441 million in trading volume in the four days immediately following the NFL kickoff.

Despite its federal license, Kalshi encountered resistance from several US states over its sports-related event contracts. Regulators in Arizona, Tennessee, Connecticut, and Massachusetts argue that these products amount to unlicensed sports gambling under state law. Court outcomes have been mixed. 

In Nevada, a federal judge ruled that Kalshi must comply with state gaming rules, rejecting the company’s claim that federal oversight preempts state authority. Kalshi is appealing that decision. On the other hand, a federal judge in Tennessee temporarily blocked state officials from enforcing restrictions against the platform.

The regulatory friction extended beyond Kalshi, with some states also targeting Polymarket and Crypto.com.