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Following a six-month pause, Bitget has relaunched operations in the United Kindom, in compliance with the Financial Conduct Authority’s (FCA) stringent Financial Promotions Regime, the cryptocurrency exchange announced in a statement on Wednesday.
This move underscores Bitget's strategy to bring a broad selection of digital assets to British users while prioritizing regulatory adherence, the exchange said, noting that with over 150 tokens now available for trading, it's offering more than doubles those of many competitors, setting a new benchmark in the UK’s digital asset space.
The approval will now allow Bitget users in the UK access to trade crypto and custody services for a range of assets including tokenized real-world assets.
Gracy Chen, CEO at Bitget, emphasized the platform's commitment to regulatory compliance as a core tenet of its global expansion strategy: "At Bitget, compliance is the core of our expansion strategy. The entrance into the UK market under the regime allows us to bring users a wide variety of digital assets within the everchanging crypto landscape.
This launch is a step towards establishing Bitget as a long-term, compliant partner in diverse markets, providing investors with a platform to explore digital assets."
In recent years, the UK has emerged as a highly regulated environment for digital assets, particularly since the implementation of the FCA’s Financial Promotions Regime. This regime mandates that all financial promotions, including those related to crypto trading, adhere to standards of transparency, fairness, and accuracy.
As a safeguard for consumers, this regulation requires offshore exchanges, like Bitget, to partner with FCA-approved entities such as Archax, which is tasked with vetting the promotions to ensure compliance with these standards.
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The FCA’s growing rigorous stance on cryptocurrencies reflects a global trend as regulators worldwide impose stricter requirements on crypto platforms to improve investor protection. Bitget’s re-entry demonstrates its confidence in its ability to operate within high-regulation jurisdictions, paving the way for further expansion across compliant global markets.
In September, Bitget announced a strategic partnership with LaLiga, Spain's top-flight football league, in a multi-million dollar deal as its official crypto partner in Southeast Asia and Latin America. Established in 2018, Bitget serves over 25 million users in 100+ countries and regions, according to its website.
