Cryptocurrency exchange Bitget has received a Virtual Asset Service Provider (VASP) license in Bulgaria, marking its fifth such license in Europe. This development brings the company a step closer to securing Markets in Crypto-Assets (MiCA) licensing.
New License and Its Importance
With the new license from Bulgaria’s National Revenue Agency, Bitget can provide crypto trading, asset transitions, custody solutions, and other virtual asset services.
MiCA Licensing and Requirements
To obtain a CASP license under MiCA standards, a physical presence in the EU is required. MiCA regulations took effect on December 30, although VASP license holders have until July 1, 2026, to transition.
Bitget's Global Ambitions
Bitget is aiming for international expansion. Its activities in the UK were temporarily halted in May due to new regulations, but the exchange reopened in November. Bitget is also pursuing licenses in various countries, including Vietnam and El Salvador.
By securing a VASP license in Bulgaria, Bitget has shown its intention to strengthen its European presence and work towards MiCA licensing as part of its long-term global expansion strategy.
