Bitget Receives Bulgarian Regulatory Approval
Bitget, a Web3 firm and cryptocurrency exchange situated in the Seychelles, has been granted a Virtual Asset Service Provider (VASP) license by the Bulgarian National Revenue Agency. This significant achievement supports Bitget’s plan to increase its presence throughout Europe.
What the License Makes Possible
Bitget is now able to lawfully offer a variety of cryptocurrency services in Bulgaria thanks to this approval. These consist of financial transfers, wallet management, cryptocurrency trading, custody solutions, and digital asset public offerings.
Enhancing European Activities
Bitget’s current regulatory approvals in several European countries, including Lithuania, Poland, Italy, and the UK, are supplemented by the Bulgarian VASP license. This strengthens its position in the local cryptocurrency scene.
Bulgaria’s Strategic Significance
“The successful application of the VASP license in Bulgaria is part of Bitget’s expansion strategy to serve users across the European Union,” said Hon. Ng, Bitget’s chief legal officer, underscoring the strategic importance of this action.
“Bulgaria serves as a strategic gateway for our European expansion, offering crypto-friendly ecosystems the chance to accelerate crypto’s adoption,” he added, underscoring Bulgaria’s contribution to the company’s success.
Plans for the Future and Regulatory Compliance
Bitget, which says it serves more than 100 million users in more than 150 countries, plans to collaborate closely with European regulators in the future. The business is actively working to comply with the EU’s Markets in Crypto-Assets (MiCA) framework and is dedicated to making sure its goods meet regulatory criteria.
