Following a temporary suspension, cryptocurrency exchange Bitget has resumed operations in the United Kingdom, guaranteeing complete compliance with the Financial Conduct Authority’s (FCA) Financial Promotions framework. This relaunch comes after Bitget’s decision earlier this year to restrict UK access in order to update its platform in accordance with legal regulations. Now fully compliant, the exchange offers over 150 tokens to UK customers, significantly surpassing the selection found on many other exchanges in the region.
The FCA authorized company Archax to examine financial advertising, paving the way for Bitget’s re-entry into the UK market. This collaboration enables Bitget to offer a diverse range of crypto services, including trading and custody of digital assets as well as tokenized real-world assets, all while adhering to UK regulatory norms.
Bitget’s CEO, Gracy Chen, expressed enthusiasm for the company’s expanding presence in the UK’s regulated crypto market, adding that the platform’s diverse coin selection is consistent with its aim to operate in highly legal worldwide markets. Chen noted that compliance is critical to Bitget’s international expansion plan, allowing it to serve a varied user base in various regulatory situations.
Adopted to protect consumers in the cryptocurrency industry, the FCA’s new Financial Promotions Regulations set stringent standards for transparency, fairness, and accuracy in all financial promotions. Firms must now provide explicit risk warnings, avoid misleading advertising, and perform appropriateness evaluations for prospective investors. Furthermore, the laws require a 24-hour cooling-down period and restrict promotional incentives such as referral money.
With new restrictions in place, some cryptocurrency companies have reevaluated their UK operations, with some changing services and others departing the market entirely. Bitget’s compliance-focused approach, on the other hand, supports its goal of establishing a robust, secure presence for UK users, allowing it to compete in a rigorously regulated market.
This legal shift in the UK reflects a broader worldwide trend, with authorities in a number of nations enacting stronger regulations to protect investors in the quickly changing cryptocurrency market. Bitget’s successful relaunch demonstrates its willingness to adapt to these changes, allowing users to safely access a wide range of digital assets in a regulatory-compliant environment.
