{"id":50290,"date":"2023-05-23T06:33:47","date_gmt":"2023-05-23T10:33:47","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=50290"},"modified":"2023-05-23T16:17:00","modified_gmt":"2023-05-23T20:17:00","slug":"bitget-receives-regulatory-license-to-operate-in-poland","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/bitget-receives-regulatory-license-to-operate-in-poland\/","title":{"rendered":"Bitget Receives Regulatory License to Operate in Poland"},"content":{"rendered":"\n

Bitget crypto exchange announced that it had registered as a virtual asset service provider<\/a> (VASP) in Poland. The regulatory license enables Bitget to operate lawfully on the Polish market. <\/p>\n\n\n\n

\"Bitget
Bitget Receives Regulatory license to Operate in Poland<\/figcaption><\/figure>\n\n\n\n

Bitget obtained its VASP registration in Lithuania in April, allowing it to provide cryptocurrency-related services within and from the Baltic nation.<\/p>\n\n\n\n

Bitget's managing director, Gracy Chen, stated, “We realize that regulation is the future of the cryptocurrency industry <\/a>to achieve mainstream adoption. Recent registrations in two European nations strengthen our presence and service in Europe.”<\/p>\n\n\n\n

According to its most recent quarterly report, Bitget increased its employee count from 1,000 to 1,300 during the first quarter of 2023. <\/p>\n\n\n\n

It still has approximately 300 vacant positions in R&D, compliance, business development, operations, and customer support.<\/p>\n\n\n\n

In addition, the price recovery of Bitcoin and other crypto assets increased the User Protection Fund's book value by $80 million, bringing it to $380 million. <\/p>\n\n\n\n

Bitget's futures trading volume increased by 27% quarter-over-quarter to $658 billion during the same time frame. Currently, the exchange has 8 million registered consumers from over 100 countries.<\/p>\n\n\n\n

Binance enrolled as a VASP in Poland in 2023, following the country's new requirements for blockchain companies<\/a> to continue operations. According to Maxcorp, a business consulting firm:<\/p>\n\n\n\n

\n

\u201cTraditional Polish banks do not wish to work with crypto companies, thus mostly Lithuanian based financial institutions whom are crypto-friendly can be used, further we can suggest alternative banking options in Europe (Malta, Switzerland, Cyprus etc.).\u201d<\/em><\/p>\n<\/blockquote>\n\n\n\n

According to Polish law, crypto-related corporate activities are VAT-exempt, and profits are taxed at 19%. To preserve the integrity of the exchange, VASP recipients must implement Know Your Customer and Anti-Money Laundering measures\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitget crypto exchange announced that it had registered as a virtual asset service provider (VASP) in Poland. The regulatory license enables Bitget to operate lawfully on the Polish market. Bitget obtained its VASP registration in Lithuania in April, allowing it to provide cryptocurrency-related services within and from the Baltic nation. Bitget’s managing director, Gracy Chen, […]<\/p>\n","protected":false},"author":12,"featured_media":50295,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[1804,376,735,1273,8804],"class_list":["post-50290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-bitget","tag-cryptocurrencies","tag-exchange","tag-poland","tag-regulatory-license"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/05\/image-63.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/50290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=50290"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/50290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/50295"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=50290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=50290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=50290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}