Bitget eyeing Lithuania for European regional hub

Crypto exchange Bitget is considering Lithuania as its European regional hub, reflecting its strategic expansion within the European Union. Bitget, which already holds a virtual asset service provider license in Lithuania, plans to establish an office and hire compliance and operations personnel in the country, according to a company release. The exchange’s efforts are part of broader preparations for the MiCA framework, which aims to create a unified regulatory environment for crypto assets across the EU. The company aims to work closely with European regulators to ensure its offerings meet regulatory standards while safeguarding user assets and data. Bitget ( BGB ) has prioritized regulatory adherence in crypto-friendly jurisdictions, holding licenses in markets like Poland , Australia, and Italy. You might also like: 3 reasons why Solana price may jump to $500 soon Europe’s changing crypto regulation In a statement, Bitget’s Chief Legal Officer Hon Ng highlighted the exchange’s commitment to regulatory compliance and its dedication to supporting Europe’s expanding crypto ecosystem. Ng described the decision to focus on Lithuania as a demonstration of Bitget’s intention to uphold high standards of security and compliance while fostering innovation in the industry. The exchange recently resumed operations in the United Kingdom with fully compliant services and is pursuing regulatory approvals in over 15 jurisdictions worldwide. Bitget paused U.K. services in May after the Financial Conduct Authority implemented new compliance requirements for crypto firms. You might also like: ETH price rises amid growing adoption of Layer-2 solutions