Over a
month after gaining a virtual asset service provider registration in Lithuania, crypto exchange and copy trading
platform Bitget has secured a similar registration in Poland. Bitget is aiming to provider “a more secure and transparent trading experience” to Polish users, the
exchange said on Tuesday.
Bitget
further noted that the registration means that it can now work in line with
local and international laws and regulatory standards while expanding across
the European Union (EU) region. The exchange’s efforts come at a time when the EU is working towards implementing a landmark crypto law, the Markets in Crypto-Assets
(MiCA) regulation, which was recently passed by the EU Council and the Parliament. The law is expected to come into force in
July 2024.
“The recent
registrations in the two European countries enhance our foothold and service in
Europe,” noted Gracy Chen, Bitget’s Managing Director. “By
proactively working with policymakers and regulators across the EU and
worldwide, Bitget aims to enable open access to crypto in a safe, responsible
and compliant manner.”
Regulation helps achieve mainstream adoption of crypto.
At Bitget, we understand and embrace regulatory frameworks.
Working with policymakers across the EU and worldwide, we aim to enable open access to crypto in a safe and compliant manner.https://t.co/DsFbDP4fKbhttps://t.co/dWE36GHEuK
— Gracy Chen @Bitget (@GracyBitget) May 23, 2023
Furthermore, Bitget, which serves over 8 million users in more than 100
countries and regions, says it has doubled its compliance team over the last one
year. The team is tasked with navigating the exchange’s licensing processes and continuous global expansion.
Licensing
Race
In recent
months, other crypto exchanges have also ramped up their
presence in Europe. In April, OKX, the second
largest cryptocurrency exchange by trading volume, opened a French subsidiary
and has now applied for a
license to offer crypto services in France.
Kraken, a
US-based crypto exchange, also recently secured a similar
registration in Ireland despite facing regulatory headwinds in the United
States. In fact, Binance appears to be leading the race as the top crypto
exchange in January gained its 7th
regulatory license in the EU region.
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Over a
month after gaining a virtual asset service provider registration in Lithuania, crypto exchange and copy trading
platform Bitget has…
