Bitget expands into Lithuania to strengthen its EU presence, aligning with MiCA regulations. This move boosts compliance and market trust.
Bitget, a leading crypto exchange, is expanding its reach into Europe. The company is planning to set up a regional hub in Lithuania. This decision corresponds to the development plan of Bitget in the European Union market. It is as part of its moves to adhere to new Markets in Crypto-Assets (MiCA) regulations that the European Union is implementing, according to the blog post. These regulations are intended to lay the foundation for the harmonization of the regulation of crypto assets across Europe.
In the future, Bitget will open an office in Lithuania and hire compliance and operation personnel. The company needs to adhere to the MiCA framework standards and provide compliance and security. This is an indication that Bitget is willing to run a clean and safe business within the European region. The company has also thanked the EU for its regulatory guidance and for its focused efforts to create a safe and thriving ecosystem for crypto technologies.
Bitget Expands into Lithuania, Aligning with EU MiCA Regulations
The decision of the company to expand its market into Lithuania is strategic. It is acknowledged for being friendly to blockchain and cryptocurrency innovation. In addition, it creates a favorable setting for the new operations of Bitget. The company’s entry into Lithuania will also enable it to engage better with the European regulators. This is important in making sure that their products and services are compliant in the marketplace.
This is not the first time Bitget has been assertive in preventing compliance issues from arising in the first place. It already has licences in several large markets including Poland, Australia, and Italy. Furthermore, it reentered the UK market, with fully compliant services only. This entry into Lithuania is only one aspect of Bitget’s plan to get licenses in more than 15 locations. These steps contribute to building the image of the company as a safe and legal crypto exchange platform.
Hon Ng, the Chief Legal Officer of Bitget, pointed out the importance of this step. He also emphasized that company’s vision of the Europe is not only the economic one. Further, Hon Ng stated that Europe is still the epicentre for crypto development, and that is why Bitget would like to contribute to this. However, the company is also committed to preserving security and compliance standards.
With a focus on Lithuania, Bitget is now recognized as a key player in the European market of digital assets. This process not only contributes to the company’s development but also contributes to the formation of trust in its activities. As the MiCA regulations will be implemented in a couple of months, Bitget’s compliance-oriented expansion is a new standard. In showing this, the company is preparing itself for the future of crypto in Europe.
