Bulgarian VASP License Strengthens The Presence Of Bitgets In Europe, CASP May Continue

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Cryptocurrency Exchange Bitget received a Virtual Asset Service Provider (VASP) in Bulgaria. This is the fifth European license received by Bitget, bringing it a step closer to the market for crypto assets (MICA) licenses.

A new license from the National Revenue Agency in Bulgaria allows Bitget to promote crypto trading, asset transfer, management solutions, public services and wallet services.

Bitget is about to reach CASP from VASP

“The success of applying the VASP license in Bulgaria is part of Bitget’s expansion strategy based in the Seychelles to serve users across the European Union,” said Hon Ng, Chief Justice of Bitget. Masu. Bitget has already been approved by regulatory authorities in Poland, Italy and Lithuania.

VASP license holders must apply for the Mica Crypto Asset Service Provider (CASP) and pass on various requirements, including stricter money laundering and compliance with capital regulations. CASP holders must also have a physical presence in the European Union (EU). CASP applications began to be considered in January.

MICA regulations came into effect on December 30th, but VASP license holders have been assigned up to 18 months (until July 1st, 2026) to transfer at the discretion of the licensed country.

Bitget is seeking registration all over the world

Bitget operates in the UK and four EU countries. Activities in the UK temporarily halted in May after new regulations passed by the UK Financial Conduct. The exchange was declared compliant and resumed in November.

Bitget claims it can be used in over 200 countries and regions. This was one of five cryptocurrency exchanges that were removed from Apple and Google App Stores in the beginning of February. Japan’s financial services institutions have requested this move because no exchanges are registered.

Japanese users trying to download the Bitget app from Apple should read the message “This application is currently not available in this country or region.” Other exchanges affected were Bibit, MEXC, Kucoin, and Lbank.

In December, Bitget launched BitexC Exchange in Vietnam, customized to the regulations of the country.

Bitget received a Bitcoin Service Provider license from the Central Bank of El Salvador in December. It was also applied to another institution for licensing to provide services on other crypto assets.