Today in crypto: KuCoin has secured a Markets in Crypto-Assets Regulation (MiCA) license in Austria as it expands its push into Europe, Bitcoin is facing its worst November since 2019, but it could set it up for a 2026 rebound, and the Balancer community proposed a plan to distribute funds recovered from the protocol’s recent hack.
KuCoin’s EU arm secures MiCA license in Austria, Malta excluded
Major cryptocurrency exchange KuCoin is the latest company to secure a license under the European Union’s MiCA framework.
KuCoin’s European arm, KuCoin EU, secured a MiCA license from the Financial Market Authority of Austria, the company said in a statement shared with Newspress1st on Friday.
The authorization allows KuCoin EU to offer crypto asset services across 29 countries in the European Economic Area (EEA), excluding Malta, according to the exchange’s representatives.
“Securing the MiCA license with our local entity in Austria is a defining milestone in KuCoin’s long-term trust and compliance strategy,” KuCoin CEO BC Wong said, adding that the regulatory framework is “one of the highest regulatory standards worldwide.”
KuCoin’s MiCA approval follows its license application filed in early 2025, arriving months after several crypto asset providers (CASPs), including Austria-based Bitpanda, had already secured MiCA authorization in other EU member states.
“The decision to choose Austria was primarily driven by the timely implementation of the MiCA accompanying laws, the stable and foreseeable regulatory environment as well as the huge talent pool,” the exchange said in a statement in February.
Alongside KuCoin, Austria’s FMA has issued MiCA licenses to five more CASPs: crypto-friendly Amina Bank, Bitpanda, Bybit, Cryptonow and FIOR Digital.
Bitcoin set for “promising new year” as it faces worst November in seven years
Bitcoin is likely to close November at its worst loss since at least 2019, but LVRG research director Nick Ruck told Newspress1st that it “signals an opportunity for smart investors to start buying back in.”
“Overleveraged participants and unsustainable projects have been largely cleared out, which gives way for new long-term holders to scale in ahead of a promising new year,” he said.
November is historically one of the strongest months for Bitcoin (BTC), but it’s down nearly 16.9% so far since Nov. 1, nearing losses from November 2019, when it lost almost 17.3%, but above its worst-ever November, when it dumped 36.5% during a brutal bear market.
Arctic Digital head of research Justin d’Anethan told Newspress1st that crypto is used to a four-year cycle that’s seen year-end rallies, but that was disrupted by spot Bitcoin funds launching in the US in early 2024.
“I see this as positive, though: it hints at the ever so dangerous ‘this time is different’ as institutions finally came in a meaningful way, changing the pace, breadth and timing of crypto price action,” he said.
Balancer community proposes plan to distribute funds recovered from hack
Two members of the Balancer protocol community submitted a proposal on Thursday outlining a distribution plan for a portion of the funds recovered from the protocol’s $116 million November exploit.
About $28 million from the $116 million heist was recovered by white hat hackers, internal rescuers, and StakeWise — an Ether liquid staking platform.
However, the proposal covers only the $8 million recovered by white hat hackers and internal rescue teams, while the nearly $20 million retrieved by StakeWise will be distributed separately to its users.
The authors proposed that all reimbursements should be non-socialized, meaning that funds are distributed only to the specific liquidity pools that lost the funds and paid out on a pro-rata basis according to each holder’s share in the liquidity pool, represented by Balancer Pool Tokens (BPT).
Reimbursements should also be paid in-kind, with victims of the hack receiving payment denominated in the tokens they lost to avoid price mismatches between different digital assets, according to the authors.
The Balancer hack was one of the “most sophisticated” attacks in 2025, according to Deddy Lavid, the CEO of blockchain cybersecurity company Cyvers, highlighting the need for crypto user safety as security threats continue to evolve.
