The post Bitget re-enters UK market with local rules compliance appeared on BitcoinEthereumNews.com.

Bitget has officially re-launched its UK platform, now fully compliant with the Financial Promotions Regime. Cryptocurrency exchange Bitget is coming back to the United Kingdom just six months after suspending its services to new users in the country. In a Nov. 12 press release, the exchange said it has re-launched its services in compliance with the U.K.’s Financial Promotions Regime. By partnering with Archax, a U.K.-regulated crypto custodian, Bitget users can again trade crypto and access custody services for a range of assets, including tokenized real-world assets. Bitget chief executive Gracy Chen says the entrance into the U.K. market under the regime is a “step towards establishing Bitget as a long-term, compliant partner in diverse markets, providing investors with a platform to explore digital assets.” Bitget had paused U.K. services in May after the Financial Conduct Authority implemented new compliance requirements for crypto firms. While the trading platform did not disclose specific details on the adjustments it made to meet these requirements, it emphasized that it has been working to ensure full alignment with the Financial Promotions Regime. The re-launch comes just a few weeks after Bitget rolled out stringent criteria for listing tokens to shield users from high-risk projects and potential exit scams. Under the new rules, every project looking to list on Bitget must pass a rigorous assessment covering multiple aspects. A comprehensive legal review ensures the project’s code quality, security measures, and regulatory compliance. Source: https://crypto.news/bitget-re-enters-uk-market-with-local-rules-compliance/

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Filed under: News - @ November 12, 2024 12:25 pm