Bitget Secures VASP License in Bulgaria for European Operations
Bitget has secured a Virtual Asset Service Provider (VASP) license from Bulgarian financial authorities, allowing it to operate under the European Union's Markets in Crypto-Assets (MiCA) regulation. This approval positions Bulgaria as Bitget's main hub for compliance.
Key Details
- Bitget can now offer services like crypto trading, asset custody, and fiat conversion in Bulgaria.
- The VASP license enables institutional custody services and potential token offerings in the local market.
- Once MiCA is fully integrated in Bulgaria, Bitget can extend services across the EU without separate approvals.
- Bitget initially planned its European headquarters in Lithuania but shifted focus to Bulgaria.
- The exchange underwent scrutiny by Bulgaria’s National Revenue Agency prior to receiving regulatory approval.
Expansion Strategy
- Bitget aims to expand its European presence while ensuring regulatory compliance.
- Other regulatory approvals have been secured in Italy, Poland, Lithuania, and the UK.
- Bitget is also registered in El Salvador as a Bitcoin Service Provider and is exploring the US market.
- The company's 2025 strategy focuses on aggressive global expansion while prioritizing compliance standards.