Bitget, a prominent cryptocurrency exchange, is collaborating with regulators in India to secure the necessary licensing for operating in accordance with local regulations.
According to Bitget’s announcement on July 3, the exchange is actively engaged in discussions with India’s Financial Intelligence Unit (FIU) to obtain Virtual Asset Service Provider (VASP) registration.
Simran Alphonso, Bitget’s head of global communications, emphasized that obtaining this registration will enable the exchange to adhere to tax requirements and maintain transparency in its operations.
Alphonso highlighted that obtaining FIU registration not only provides a secure platform for hosting meetups, community interactions, and educational initiatives but also enhances the reliability and credibility of a crypto exchange.
She emphasized that FIU registration facilitates consumer protection measures such as dispute resolution, fraud compensation, and civil enforcement to combat scams.
Currently, Bitget operates in the Indian market but faces challenges in onboarding new users due to limitations stemming from the lack of VASP registration.
Alphonso noted, “New users encounter difficulty accessing Bitget apps on Google Play Store and App Store, while existing users continue to use the app with its full range of features.”
She did not specify the exact cryptocurrency services currently available to Bitget’s existing users.
