Bitget, a popular crypto exchange, has returned to the UK market after a temporary pause earlier in 2024. This pause was to align with the UK's new financial regulations. Now, Bitget relaunches with full compliance and partners with a trusted FCA reviewer.
Navigating UK Compliance
Bitget teamed up with Archax, a company authorized by the Financial Conduct Authority (FCA), to ensure that its promotional materials comply with UK standards. These regulations, known as FinProm, came into effect in 2023, requiring crypto firms to clearly communicate risks in their promotions. Julia Loder, Head of Regulation at Archax, highlighted the aim to offer investors a safer environment.
What Bitget Offers UK Users
Bitget offers over 150 cryptocurrencies, along with tokenized assets that represent real-world items. Gracy Chen, CEO of Bitget, emphasizes their goal to become a reliable name in regions with clear regulations. This diverse asset selection is appealing to traders seeking choice and variety.
What's Next for Bitget and UK Crypto Traders?
Bitget's return signals more options for UK traders. The crypto market in the UK is rapidly evolving, and Bitget's approach may serve as a blueprint for other companies. As FinProm regulations evolve, other firms might follow their lead to maintain their market standing.
For crypto enthusiasts, this means access to a new, safe, and regulated trading platform. Bitget's actions could mark the beginning of a new era of safer, regulated crypto trading options in the UK.
