Will Expand In India's Crypto Market, Bitget Prepares License Requirements

Bitget will expand in the Indian crypto market (Photo; Doc. Mpost)

JAKARTA - Bitget, is considering expansion into India and is in active discussion with local regulators regarding licensing requirements. Bitget representatives revealed on Wednesday July 3 that "India is a high priority market for Bitget."

This step was taken when India was in a position as one of the fastest crypto adoption countries in the world. India's established crypto exchange has high hopes that the country has a potential for positive changes in crypto policy in the future.

India's domestic crypto exchange continues to follow the anti-money laundering framework introduced in March 2023. In addition, India is also increasingly strict in dealing with crypto exchanges that do not comply with regulations by issuing notifications to nine exchanges in December, including Binance and Kraken.

Quoted from Crypto News, Total Alphonso, Head of Global Communications on Bitget, notes that India's potential in Web3 space is huge. Thanks to its high talent, technology literate population, and positive regulation, "he added, "No one wants to miss the opportunity to serve this audience!"

Bitget Expansion To Crypto Friendly Areas

The Seychelles-listed crypto exchange continues to look for opportunities to enter jurisdictions that have clear guidelines for licensing and registration, "wrote your way. In line with the motive, Bitget pursued expansion in the UAE last year, to set up a more obedient exchange. The exchange also revealed in December that it would recruit more employees in the region, expanding their Middle East team.

Bitget has obtained virtual asset service provider (VASP) licenses in Lithuania and Poland. In addition, to ensure transparency to users, Bitget provides access to Evidence Reserves data that can be verified along with comprehensive fund storage information.

In a separate tweet, India's Bitget official account stated that Indian users are very valuable and important.

We are committed to keeping Bitget as one of the safest platforms for trading crypto because we work to provide a compliant platform for all of our users in India.