The crypto exchange is currently in talks with the local market watchdog.
India is one of the fastest adopters of digital assets in the world.
Cryptocurrency
exchange Bitget has set its sights on becoming a regulated player in the
world's most populous democracy. The company's announcement comes as India
grapples with the complexities of integrating cryptocurrencies into its
financial ecosystem.
Bitget Signals Intent to
Register as Regulated Crypto Exchange in India
The company
revealed it is in active discussions with India's Financial Intelligence Unit
(FIU) regarding licensing requirements. Although there is increasing talk of stringent
regulations in the cryptocurrency industry in the country, India remains
one of the fastest adopters of crypto in the world.
It is a
vast market, and currently, nearly one in five people globally is from India.
No cryptocurrency exchange can afford to overlook such a large potential
customer base. This is evidenced by
the latest move from Binance, which is preparing to re-enter the local
market.
Simran Alphonso, Head of Global Communications at Bitget
"India
is a high-priority market for Bitget," Simran Alphonso, Head of Global
Communications at Bitget, commented. "We're actively navigating through regulations to make sure the platform is compliant for us to serve our users in India."
As part of
its efforts to establish a presence in India, Bitget is launching user
awareness campaigns aimed at educating investors about digital assets. The
company is also maintaining transparency by providing verifiable Proof of
Reserves data and offering users access to fund storage information, including
publicly available wallet addresses.
The
company's user protection initiatives include the Bitget
Protection Fund, which reported an average valuation of $429 million in
June 2024. This fund has been a key component of Bitget's strategy to provide a
secure trading environment since its launch in August 2022.
The
exchange also greatly benefited from the recent cryptocurrency boom, triggered
by Bitcoin reaching record values in March 2024. The customer base of the
exchange grew
to 25 million, and its native token surpassed the $1 milestone.
Cryptocurrency
exchange Bitget has set its sights on becoming a regulated player in the
world's most populous democracy. The company's announcement comes as India
grapples with the complexities of integrating cryptocurrencies into its
financial ecosystem.
Bitget Signals Intent to
Register as Regulated Crypto Exchange in India
The company
revealed it is in active discussions with India's Financial Intelligence Unit
(FIU) regarding licensing requirements. Although there is increasing talk of stringent
regulations in the cryptocurrency industry in the country, India remains
one of the fastest adopters of crypto in the world.
It is a
vast market, and currently, nearly one in five people globally is from India.
No cryptocurrency exchange can afford to overlook such a large potential
customer base. This is evidenced by
the latest move from Binance, which is preparing to re-enter the local
market.
Simran Alphonso, Head of Global Communications at Bitget
"India
is a high-priority market for Bitget," Simran Alphonso, Head of Global
Communications at Bitget, commented. "We're actively navigating through regulations to make sure the platform is compliant for us to serve our users in India."
As part of
its efforts to establish a presence in India, Bitget is launching user
awareness campaigns aimed at educating investors about digital assets. The
company is also maintaining transparency by providing verifiable Proof of
Reserves data and offering users access to fund storage information, including
publicly available wallet addresses.
The
company's user protection initiatives include the Bitget
Protection Fund, which reported an average valuation of $429 million in
June 2024. This fund has been a key component of Bitget's strategy to provide a
secure trading environment since its launch in August 2022.
The
exchange also greatly benefited from the recent cryptocurrency boom, triggered
by Bitcoin reaching record values in March 2024. The customer base of the
exchange grew
to 25 million, and its native token surpassed the $1 milestone.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
FMPS:24 | Connecting the Future of Finance Across Continents
FMPS:24 | Connecting the Future of Finance Across Continents
Finance Magnates Pacific Summit 2024 (FMPS:24), is the premier event for the retail investing industry and fintech community in the Asia Pacific region. This dynamic platform connects global expertise, fostering growth and innovation across online trading, fintech, payments, and crypto.
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Finance Magnates Pacific Summit 2024 (FMPS:24), is the premier event for the retail investing industry and fintech community in the Asia Pacific region. This dynamic platform connects global expertise, fostering growth and innovation across online trading, fintech, payments, and crypto.
Join FMPS:24 to build relationships, explore new possibilities, and gain insights from industry leaders and experts.
Register Now: https://bit.ly/4cQSiB1
#fmps24 #fmps #fmevents #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities
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IFX EXPO International2024: What is next for liquidity providers?
IFX EXPO International2024: What is next for liquidity providers?
X Open Hub’s CEO, Michal Copiuk, on AI
X Open Hub’s CEO, Michal Copiuk, on AI
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
X Open Hub’s CEO, Michal Copiuk, on the developments of AI
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
CySEC’s Chairman, Dr George Theocharides, speaking at the iFX EXPO International 2024
FX and CFDs in Africa: Key Industry Trends | FMAS:24
FX and CFDs in Africa: Key Industry Trends | FMAS:24
As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
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As Africa joins the global financial markets, its unique economy fuels forex and CFD trading innovation. Discover growth drivers: tech advancements, regulations, and increased financial education for African traders. See how these factors enhance trading accessibility, transparency, financial inclusion, and opening new investment opportunities. Learn about the digital transformation's impact on trading –the role of technology, social platforms, and automated systems in democratizing market access.
SPEAKER: Christoforos Panagiotou, Africa Regional Manager at Fxview @Fxview
#fmas #fmas24 #fmevents #financemagnates #fintech #technology #onlinetrading #forex #investing #investors
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates.
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