Bitrue, a prominent cryptocurrency exchange, has recently received a Virtual Asset Service Provider (VASP) license from Lithuania. This new regulatory approval from Lithuania’s Financial Crime Investigation Service (FNTT) legally entitles Bitrue Lithuania UAB to offer digital asset exchange and custody wallet services in some EU nations.
#Bitrue has secured a Virtual Asset Service Provider (VASP) license in Lithuana and will be expanding our services to some EU countries.Bitrue is committed to regulatory compliance, to elevate trust and confidence in Bitrue.Keep building with #Bitrue pic.twitter.com/zQCXSWDZ6P
— Bitrue (@BitrueOfficial) October 29, 2024
With registration number 306725033, this license reinforces Bitrue’s commitment to regulatory compliance, which remains critical to building trust within the evolving cryptocurrency industry. Bitrue revealed this groundbreaking news to its Lithuania-based community through its social media platform X.
Compliance to Strengthen Web3 Security
The efforts to obtain the VASP license show that Bitrue complies with the market’s requirements and the fight against money mules legislation. This act shows the enhanced security standards being upheld by Bitrue as it considers expanding its services for the millions of crypto users in Europe.
Adam O’Neill, the CMO of Bitrue, Lithuania’s favorable regulatory environment, was commended, with special attention paid to the focus on sustainable development in the Web3 space. The company’s willingness to abide by these standards ensures it remains a credible digital asset platform, stating Bitrue’s existence as a digital decode.
Bitrue Expands EU Services with MiCA License
Bitrue has set its Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider (CASP) license, which will allow it to offer services across the entire EU and the European Economic Area. As EU regulations evolve, securing the MiCA license would position Bitrue to expand further, serving Europe’s growing crypto user base with compliant and secure solutions.
With over 30 million crypto traders and investors in the region, Europe presents an opportunity for Bitrue to enhance its digital asset services. Through its newly acquired VASP license, Bitrue anticipates providing secure and compliant offerings to European consumers in select countries. It aims to strengthen its presence in a market recognized for its rapid crypto adoption.