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Crypto exchange Bitget is considering Lithuania as its European regional hub, reflecting its strategic expansion within the European Union.
Bitget, which already holds a virtual asset service provider license in Lithuania, plans to establish an office and hire compliance and operations personnel in the country, according to a company release.
The exchange’s efforts are part of broader preparations for the <a href="https://crypto.news/tag/mica" target="_blank" rel="noopener noreferrer nofollow">MiCA</a> framework, which aims to create a unified <a href="https://crypto.news/token-launch-in-2024-in-europe-a-compliance-checklist-opinion/" target="_blank" rel="noopener noreferrer nofollow">regulatory environment</a> for crypto assets across the EU. The company aims to work closely with European regulators to ensure its offerings meet regulatory standards while safeguarding user assets and data.
Bitget (<a href="https://crypto.news/price/bitget-token/" target="_blank" rel="noopener noreferrer nofollow">BGB</a>) has prioritized regulatory adherence in crypto-friendly jurisdictions, holding licenses in markets like <a href="https://crypto.news/bitget-joins-binance-in-obtaining-regulatory-approval-in-poland/" target="_blank" rel="noopener noreferrer nofollow">Poland</a>, Australia, and Italy.&nbsp;
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<h2 class="wp-block-heading" id="europe-s-changing-crypto-regulation">Europe’s changing crypto regulation&nbsp;</h2>
In a statement, Bitget’s Chief Legal Officer Hon Ng highlighted the exchange’s commitment to regulatory compliance and its dedication to supporting Europe’s expanding crypto ecosystem.
Ng described the decision to focus on Lithuania as a demonstration of Bitget’s intention to uphold high standards of security and compliance while fostering innovation in the industry.
The exchange <a rel="noopener noreferrer nofollow" href="https://crypto.news/bitget-re-enters-uk-market-with-local-rules-compliance/">recently resumed operations</a> in the United Kingdom with fully compliant services and is pursuing regulatory approvals in over 15 jurisdictions worldwide. Bitget paused U.K. services in May after the Financial Conduct Authority&nbsp;<a href="https://crypto.news/bitget-tightens-token-listing-criteria-to-avoid-exit-scams/" target="_blank" rel="noopener noreferrer nofollow">implemented</a>&nbsp;new compliance requirements for crypto firms.
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Bitget eyeing Lithuania for European regional hub

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