🚨 $100K in Sight: Follow Bitcoin’s Final Push Live! TRACK NOW

Crypto Trading Platform BitGet Secures Service Provider License in Lithuania

Crypto Trading Platform BitGet Secures Service Provider License in Lithuania

With the new registration, BitGet will be able to offer its services "in or from Lithuania."

BitGet, a cryptocurrency exchange and digital asset trading platform, has secured registration as a service provider in Lithuania.

According to the announcement shared on April 20th, the company has successfully adhered to the compliance standards of Lithuania's regional laws and regulations. The company noted that this regulation will allow it to offer crypto-related services "in or from Lithuania."

How to Buy Crypto SAFELY With a Credit Card (Animated)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

Known as an emerging digital asset market in Europe, the country also serves as a "heaven" for cryptocurrency and blockchain initiatives. As revealed by the new portal Bloomberg, in 2022, Lithuania experienced a staggering increase in crypto-related company registrations.

The surge came as businesses sought to find a safe place in the Baltic nation after Estonia stripped hundreds of operating licenses during a late 2021 crackdown.

Lithuania continues to maintain its status as an attractive hub for both cryptocurrency users and companies aiming to establish legal entities offering crypto-related services.

In light of this, BitGet has chosen to strengthen its compliance efforts, with managing director Gracy Chen noting:

The global regulation of digital assets is advancing on a daily basis, and we actively observe the regulatory changes around the globe. We have a whole dedicated compliance team in place to focus on various regulatory compliance matters.

Operating since 2018, BitGet now serves approximately 8 million users across more than 100 countries.

BitGet's Lithuanian registration underscores the significance of compliance in the rapidly evolving crypto landscape and the strategic opportunities arising from Europe's burgeoning digital asset markets.

It is worth noting that recently, BitGet has partnered with Core DAO and MEXC to roll out a $200 million fund to offer financial assistance to early-stage Web3 projects.

Gile K. Market Sentiment Analyst
Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she's not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

Loading...
Bybit
×
Verified

$30,000 IN REWARDS

Bybit Black Friday Deal
5.0 Rating