Bitget Expands in Europe with New Crypto Hub in Lithuania
Crypto exchange Bitget has announced its plans to enhance compliance efforts by establishing a new regional office for Europe in Lithuania. This move is in line with the European Union’s Markets in Crypto-Assets (MiCA) regulations, showcasing the exchange’s commitment to regulatory compliance.
Key Points:
- Bitget to expand in Europe with a new crypto hub in Lithuania
- Focus on regulatory compliance ahead of MiCA rules implementation
- Support for Europe’s crypto startups through the new hub
- Bitget aims to uphold the highest standards of security and compliance in the EU market
Compliance amid MiCA rollout
Bitget’s entry into Lithuania signifies its dedication to working closely with European regulators to offer compliant products and services to users. The establishment of the new hub aims to not only expand the exchange’s services across the EU but also provide support for crypto startups in Europe.
According to Bitget’s chief legal officer Hon Ng, the company is committed to upholding security and compliance standards by establishing a presence in the European Union.
The EU is gearing up for the full implementation of the MiCA laws by December 30, 2024, after adopting the framework in 2023. This has led to regulatory changes in the crypto industry, with some exchanges delisting non-compliant stablecoins in the EU market.
Bitget, with regulatory approval in multiple countries and jurisdictions including Poland, Australia, and Italy, has also re-entered the United Kingdom market, showcasing its global expansion efforts and commitment to regulatory compliance.
