Bitget relaunches UK platform after compliance update with FCA rules

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As a seasoned researcher with a keen eye for regulatory compliance in the crypto space, I find it refreshing to see Bitget taking proactive steps to ensure they adhere to local laws, even if that means temporarily suspending services and undergoing a thorough recalibration process. It’s always better to err on the side of caution, especially when dealing with complex regulatory frameworks like the Financial Promotions Regime in the UK.

After complying with UK regulations, the cryptocurrency platform Bitget has decided to re-introduce its app in the country, marking the end of a brief suspension.

As a researcher delving into the world of cryptocurrency, I’m excited to share that I recently learned about Bitget’s official relaunch of its UK website. This strategic move is in accordance with the Financial Promotions Regime, as announced to CryptoMoon on November 12th.

The re-launch takes place several months following Bitget’s restriction of its website in the UK, in compliance with the Financial Promotions regulations, effective from May 2024.

Following the introduction of the latest Financial Promotions regulations, Bitget has chosen to halt onboarding new clients temporarily. This pause is to enable us to adjust our UK platform in line with the new rules and ensure full compliance,” said a representative from Bitget, speaking to CryptoMoon.

The launch of Bitget’s app in the UK has been made possible by receiving approval for Financial Promotions from Archax, which allows for marketing and advertising within the UK.

According to Bitget, Archax serves as an impartial assessor of financial promotions and marketing materials, sanctioned by the FCA to verify that the content adheres to the FCA’s guidelines for financial promotions.

This is a developing story, and further information will be added as it becomes available.

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2024-11-12 13:10