After briefly withdrawing its operations, Bitget announced its return to the United Kingdom digital assets market space. The platform temporarily ceased operations in the region to observe significant alignment with the new regulations presented by the Financial Conduct Authority (FCA).
Considering the circumstances that led to its exit earlier this year, Bitget revealed firm resolute to play by the newly established local laws. For context, the exchange announced the withdrawal of its services in a May press release: “As you may be aware, recent regulatory changes by the FCA require crypto asset providers to implement additional measures. We are hard at work to finalize approval of the implemented measures. Until we do, we will temporarily restrict the onboarding of new users in the UK.”
Bitget Returns to the UK with Improved Offers
Bitget's services resumption in the UK came with new objectives tailored towards achieving new feats in the region. One upgraded feature it aims to offer is the support of diverse token options, which allows users to trade multiple digital assets conveniently. Impressively, Bitget marked its UK return by making over 150 tokens accessible via its platform.
Meanwhile, the plan to expand its service coverage post-launch stems from the quest to establish a platform capable of supporting multiple trading options without experiencing system distress and overload. By aligning with the UK-based code of conduct, Bitget qualifies to render such services without breaching regulatory guidelines.
The trading outlet is on a mission to solidify its base in the UK. With improved technological advancements, Bitget will upgrade its adoption status and gain more regional expansion.
Archax Approves Bitget's Return
As part of concentrated efforts to protect UK citizens from risky trading adventures, Archax will scrutinize foreign business enterprises to ensure compliance before granting them operational permits.
Relaying that it approved Bitget’s UK digital space market re-entry, Archax wrote on X: “We are pleased to have supported Bitget's entry into the UK market with our FinProm approval service. This milestone reaffirms Bitget’s commitment to regulatory compliance. In addition, it aligns with Archax’s dedication to ensuring that UK investors enjoy a transparent trading environment within the FCA’s Financial Promotion Regime.”
We are pleased to have supported @bitgetglobal's entry into the UK market, with our FinProm approval service.
— Archax (@ArchaxEx) November 12, 2024
This milestone reaffirms Bitget's commitment to regulatory compliance and aligns with Archax's dedication to ensuring that UK investors enjoy a transparent trading… pic.twitter.com/SKQRapdHUg
