Bitget’s U.K. platform has formally relaunched and is now completely compliant with the Financial Promotions Regime.
Just six months after halting its services for new users in the U.K., cryptocurrency exchange Bitget is returning to the country.
The exchange announced in a press statement on November 12 that it has relaunched its services by the Financial Promotions Regime of the United Kingdom.
Bitget customers may now trade cryptocurrency and access custody services for various assets, including tokenized real-world assets, thanks to a partnership with Archax, a crypto custodian regulated in the United Kingdom.
This entry into the U.K. market under the regime is a “step towards establishing Bitget as a long-term, compliant partner in diverse markets, providing investors with a platform to explore digital assets,” according to Gracy Chen, chief executive of Bitget.
Following the Financial Conduct Authority’s implementation of new regulatory standards for cryptocurrency companies, Bitget suspended its operations in the United Kingdom in May.
The trading platform stressed that it has been trying to completely conform with the Financial Promotions Regime, even if it needed to provide precise details about the changes it took to comply with these criteria.
Only a few weeks have passed since Bitget implemented strict listing criteria for tokens in an effort to protect users from high-risk ventures and possible exit scams.
The new regulations require that all projects wishing to list on Bitget pass a thorough evaluation that considers several factors. A thorough legal examination guarantees the project’s code quality, security protocols, and regulatory compliance.
