BitGet, a Seychelles-based cryptocurrency exchange, has obtained regulatory approval to operate in Lithuania. The exchange has met compliance standards with the country’s laws and regulations, which is an emerging market for digital assets in Europe. Lithuania saw a fivefold increase in cryptocurrency company registrations in 2022, making it an attractive location for companies seeking to offer cryptocurrency-related services. BitGet has strengthened its compliance efforts by establishing a dedicated team to focus on regulatory compliance matters. The exchange has been operating since 2018 and serves over 8 million users in more than 100 countries.
Lithuania has tightened rules for cryptocurrency-related businesses by proposing legal amendments to Anti-Money Laundering and Counter-Terrorism Financing rules to enforce tighter requirements for user identification and exchange operators. The European parliament is expected to pass the Markets in Crypto-Assets legislation in the same week as BitGet’s Lithuanian registration.