As an experienced crypto investor with a keen eye for regulatory compliance and a knack for spotting promising projects, I find Bitget’s re-entry into the U.K. market to be a positive development. The partnership with Archax, a U.K.-regulated custodian, adds an extra layer of security and legitimacy to the platform.
Bitget has officially relaunched its UK platform, ensuring it adheres to the Financial Promotions Regime’s requirements.
As an analyst, I’m sharing that I am resuming operations with Bitget, a cryptocurrency exchange, in the United Kingdom, six months after halting new user registrations. In a press release dated November 12th, we announced our return, ensuring compliance with the U.K.’s Financial Promotions Regime.
In collaboration with Archax, a secure crypto storage service regulated in the U.K., Bitget users can now trade cryptocurrencies and manage custody services for various assets, such as tokenized real-world items. According to Bitget’s CEO, Gracy Chen, this move into the U.K. market represents a significant step towards positioning Bitget as a reliable, compliant partner in multiple markets, offering investors a platform to delve into digital assets over the long term.
In May, Bitget temporarily halted its services in the U.K. due to new compliance regulations imposed by the Financial Conduct Authority for crypto companies. Although the platform did not provide specific information about changes made to meet these requirements, it stressed that they have been diligently working towards complete harmony with the Financial Promotions Regime.
The relaunch is happening only a few weeks following Bitget’s implementation of strict guidelines for token listings, aimed at safeguarding users from high-risk ventures and potential fraudulent schemes such as exit scams. Now, any project aiming to be listed on Bitget must undergo a thorough examination covering various aspects. A comprehensive legal review is conducted to evaluate the quality of the project’s code, security protocols, and adherence to regulatory standards.
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2024-11-12 14:55