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<h2 id="header-0">Cryptocurrency exchange BitGet granted permission to operate as a service provider in Lithuania</h2><p>BitGet, a cryptocurrency trading platform based in Seychelles, has been granted permission to operate in Lithuania as a registered service provider. The <strong><a href="https://www.coingabbar.com/en/crypto-blogs-details/top-cryptocurrency-exchanges-trends" rel="noopener noreferrer nofollow">exchange</a></strong> has met the compliance standards required by regional laws and regulations in the country, which has been identified as an emerging digital asset market in Europe and a haven for blockchain and cryptocurrency projects.</p><p>Lithuania saw a significant increase in cryptocurrency company registrations in 2022 as companies sought to secure registrations in the country after Estonia revoked hundreds of operating licenses as part of a crackdown. BitGet has noted that Lithuania is a favorable location for cryptocurrency users and companies looking to register legal entities to offer cryptocurrency-related services.</p><p>The exchange has a dedicated compliance team to focus on regulatory compliance matters. BitGet has been in operation since 2018 and serves over eight million users from more than 100 countries.</p><h3 id="bitget-39-s-lithuania-registration-showcases-the-need-for-crypto-compliance-amidst-evolving-regulations">BitGet&#39;s Lithuania registration showcases the need for crypto compliance amidst evolving regulations.</h3><p>Last June, Lithuania proposed legal amendments to Anti-Money Laundering and Counter-Terrorism Financing rules, including tighter requirements for user identification and exchange operators. Exchanges and crypto-service providers must register as a corporate body with a minimal threshold for startup capital investments of €125,000 ($137,000).</p><p>Bifinitey UAB, the payments provider for Binance Holdings Ltd, is also based in Lithuania, and data from the country&#39;s tax authority shows that the firm was the second biggest contributor to corporate tax in 2022.</p><p>The European Parliament is expected to pass the Markets in Crypto-Assets legislation this week. <strong><a href="https://www.coingabbar.com/en/crypto-currency-news/bitgets-new-fund-to-invest-100-million-dollar-in-next-gen-web3-projects" rel="noopener noreferrer nofollow">BitGet</a></strong>&#39;s registration in Lithuania highlights the importance of compliance efforts in the cryptocurrency industry, as regulatory changes are occurring globally on a daily basis.</p><p>The exchange&#39;s compliance team will likely be paying close attention to these changes to ensure that the company remains in compliance with regional laws and regulations. Overall, BitGet&#39;s registration in Lithuania is a positive development for the cryptocurrency industry and demonstrates the growing recognition of the industry&#39;s potential in Europe.</p>

BitGet Approved as a Service Provider in Lithuania

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