Bitget, a leading cryptocurrency exchange and copy trading platform, has successfully registered as a Virtual Asset Service Provider (VASP) in Poland, according to an announcement the exchange published on Tuesday.
The price of Bitget Token, the native cryptocurrency of the Bitget ecosystem, rose slightly following the crypto regulation news to trade at highs of $0.47.
Bitget embraces regulatory path
Registration in Poland represents another milestone for the exchange as it looks to expand its presence across the globe, Bitget said in the press release.
With the VASP, Bitget can now legally offer its services as one of the cryptocurrency exchanges in Poland, reaching customers within the European Union (EU) – all within the applicable compliance laws and regulation.
Bitget’s success in Poland follows the crypto platform’s recent score of another VASP license in Lithuania, and commenting on the regulatory nod, Bitget Managing Director Gracy Chen said:
“We understand that regulation is the future of the cryptocurrency industry if mainstream adoption is to be achieved. At Bitget, we always embrace and follow the various regulatory frameworks set forth for digital assets and actively cooperate with governmental bodies to bring upon a better ecosystem. The recent registrations in the two European countries enhance our foothold and service in Europe.”
According to Chen, Bitget’s proactive approach to regulation and engagement with policymakers is part of the broader goal to make crypto access safe to everyone. It’s also a way to ensure responsibility from service providers, and protection for customers.
Bitget was founded in 2018 and has grown to become one of the leading crypto platforms, with its services available to 8 million registered customers across 100+ countries.
The company’s latest quarterly report showed its headcount increased from 1,000 to 1,300 in Q1 2023. The platform’s futures trading volume also increased during the quarter, jumping by 27% to $658 billion quarter over quarter.
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