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Cryptocurrency exchange Bitget has officially secured a Virtual Asset Service Provider (VASP) license in Bulgaria, marking a significant step in its global expansion strategy. This regulatory approval allows Bitget to legally offer crypto trading, custody, and other digital asset services in the country, strengthening its position in the European market.
What the VASP License Means for Bitget
The VASP license, issued by Bulgaria’s National Revenue Agency (NRA), grants Bitget the ability to:
- Operate crypto-to-fiat exchanges and digital asset trading services.
- Provide secure digital asset custody solutions.
- Expand compliance with European anti-money laundering (AML) regulations.
This milestone aligns with Bitget’s broader push for regulatory compliance as crypto exchanges face increasing scrutiny worldwide.
Why Bulgaria?
Bulgaria is emerging as a crypto-friendly hub within the European Union, attracting major blockchain companies due to its favorable regulatory environment and growing digital economy. By securing a VASP license, Bitget positions itself to tap into the EU market while adhering to upcoming MiCA (Markets in Crypto-Assets) regulations set to take effect in 2024.
Bitget’s European Expansion
Bitget’s approval in Bulgaria follows similar regulatory successes in other jurisdictions, as the exchange looks to:
- Build trust with European regulators and users.
- Expand its derivatives trading and spot market offerings.
- Establish a stronger foothold in the EU’s rapidly evolving crypto industry.
With global regulators tightening their oversight on crypto firms, Bitget’s move toward full compliance reflects its commitment to transparency, security, and responsible growth. This latest license reinforces Bitget’s status as a key player in the competitive crypto exchange market.
Will Bulgaria’s crypto-friendly stance attract more global exchanges? Only time will tell, but Bitget is clearly betting on a regulated and sustainable future for digital assets.
