The licence allows Bitget to facilitate cryptocurrency exchange, trading, transfer, custody, and public offering of digital assets, as well as provide wallet services.
The approval is part of the company's wider efforts to align with the European Union’s Markets in Crypto-Assets (MiCA) framework, which aims to establish a standardised regulatory approach for digital assets across EU member states.
Bitget’s acquisition of the Bulgarian VASP licence is in line with its efforts to expand within the European Union while preparing for MiCA compliance. The company is positioning itself to navigate the evolving regulatory landscape as authorities across the region introduce new standards for crypto asset service providers.
In the official press release, representatives from Bitget stated that securing the VASP licence in Bulgaria marks a step in the company’s regional expansion, allowing it to operate within the EU’s evolving regulatory framework. They noted that Bulgaria serves as a strategic entry point for growth in Europe, particularly as the bloc advances its oversight of the crypto sector.
Bitget has been pursuing regulatory approvals in multiple jurisdictions, having secured licences in Poland, Italy, Lithuania, and the UK prior to obtaining approval in Bulgaria.
The Bulgarian VASP licence enables Bitget to offer services designed to facilitate digital asset transactions, including crypto-to-fiat conversion, secure trading and transfer of assets, and custody solutions. It also supports the public offering of digital assets, potentially supporting new token launches.
In recent months, Bitget has pursued several regulatory approvals, including a BSP licence in El Salvador and authorization to provide digital asset services in the UK. The company has also facilitated the launch of a compliant Vietnam-based exchange, BitEXC, and is engaging with regulators in India. With its latest approval in Bulgaria, Bitget continues to expand its presence in regulated markets, working with European authorities to ensure its offerings meet compliance standards.
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