A prominent global cryptocurrency exchange Bitgate has been given a virtual asset service provider (VASP) license by the National Revenue Agency of Bulgaria.
Following ApprovalBitt has been authorized to offer a series of cryptocurrency services to its Bulgarian customers. The exchange can now offer thanks for licenses including trading, safe transfer, detention and cryptocurrency asset exchanges. Bittgate’s bullionin customers will also be able to participate in public token offerings on the platform.
This license gives more possibility to expand in digital assets market. As the Bittgate Crypto-asset pushes to achieve the European Union markets in the license, which will help strengthen its position in the European market, obtaining a VASP license is a good step in the right direction.
Honorable NG, Chief Legal Officer in Bittgate, commented:
“As the European Union continues to lead with a regulatory structure such as Micah, we see strong potential for permanent development and innovation in the region while maintaining compliance. Bulgaria serves as a strategic entrance to our European expansion, which gives the Crypto-friendly ecosystem a chance to accelerate the adoption of crypto. ,
NG also noted that Bitgate intends to continue expansion globally in 2025, while each new market monitors regulatory compliance. According to NG, the company has always placed a strong priority on following the regulatory criteria to preserve the integrity of the market and create a user trust.
The new milestone falls on the heels of the former license achievements of the Bittgate in other countries like Al Salvador, UK and Vietnam. Due to users’ safety and their efforts to follow the rules, Bitgate has been named by Forbes as one of the most reliable exchanges in the world.
