Bitget Eyes Lithuania for MiCA Compliance with Potential EU Hub
Bitget is considering establishing a new European regional center to prepare for MiCA compliance. The center will be located in Lithuania, and the exchange plans to recruit compliance and operations staff.
This news comes from a press release shared with BeInCrypto.
Bitget prepares for MiCA
Bitgit, One of the leading cryptocurrency exchangesRegulatory approvals are being sought in 15 countries and licenses are held in multiple EU countries. Bitget recently entered the UK market and is I am also considering returning to the United States..
“Our vision for Europe goes beyond business expansion. (It) is at the forefront of the crypto revolution and we are committed to contributing to its growing ecosystem of crypto startups. By establishing a hub in the (EU), we demonstrate demonstrates our unwavering commitment to upholding the standards of… Safety said Hon Ng, Chief Legal Officer of Bitget.
Crypto Asset Market (MiCA) is a new EU cryptocurrency regulatory framework that will have a significant impact on the industry. Companies like Revolut X are taking advantage of this opportunity Massive expansion of European businesswhile companies like Tether Retreat in anticipation of regulatory issues. If Bitget can succeed under MiCA’s leadership, it could give the company a competitive advantage.
However, such success is not guaranteed. For example, in late November, the exchange Reprimanded by Japanese regulators Due to improper registration. because Many companies are investing heavily in In this case, similar accusations may make Bitget cringe. Dedicated regional centers may alleviate some of these concerns.
Anyway, Bitget’s BGB Token Hits All-Time High Today, there are several signs that forward momentum continues. Communication has been Create good publicity for yourselfand without any clear warning of a possible recession in the near future.
Despite the non-committal language in the press release, several lines indicate that Bitget will be actively involved in some sort of MiCA compliance activity. For example, it claims that “the company is actively preparing” for MiCA and taking “active steps” to achieve compliance. Regardless of whether the Lithuania Regional Center is finalized, Bitget will take this challenge seriously.
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