Crypto Exchange Bitget Sees India as ‘High-Priority Market,’ Mulls Expansion
Crypto trading platform Bitget is eyeing India expansion and is actively discussing with the country’s regulator regarding licensing requirements.
The crypto exchange’s representative revealed the expansion on Wednesday, stating that “India is a high-priority market for Bitget.”
“We’re actively navigating through regulations to make sure the platform is compliant for us to serve our users in India.”
The next step for crypto exchanges to hit the masses is to be compliant players. It builds retail security, trust, credibility and drives the adoption.
India is a high-priority market for Bitget. We're actively navigating through regulations to make sure the platform is…
— Simran Alphonso (@SimranAlphonso) July 3, 2024
The move comes at a time when India is positioned as one of the fastest adopters of crypto globally. Already established crypto exchanges in India are having high hopes that the country certainly has “potential for positive change in India’s crypto policy in the near future.”
Domestic crypto exchanges are keeping pace with India’s anti-money laundering framework, introduced in March 2023. Additionally, India has been cracking down on non-compliant crypto exchanges operating in the country, issuing notices to nine exchanges in December including Binance and Kraken.
Simran Alphonso, Head of Global Communications at Bitget, noted that India’s scope in the Web3 space is huge. Thanks to “high skilled talent, tech-savvy population and positive regulations,” she added.
“Nobody would want to miss out on serving this audience!”
The Seychelles-registered crypto exchange has been constantly looking out to set its foot into jurisdictions having “clear guidelines for licenses and registrations,” Simran wrote.
In line with the
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