Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

Jack Dorsey’s Block to Join the S&P 500 Index Next Week

July 18, 2025

Lawmakers to review Trump’s CFTC chair nominee ahead of full Senate vote

July 18, 2025

President Donald Trump Officially Signs The GENIUS Act Into Law: What’s Next for Crypto?

July 18, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

Bitrue gets Virtual Asset Service Provider approval in Lithuania

0
By Aggregated - see source on October 28, 2024 Crypto News
Share
Facebook Twitter LinkedIn Pinterest Email
  • Bitrue has received VASP approval in Lithuania to offer crypto exchange services.
  • The company aims for EU expansion by pursuing the Markets in Crypto-Assets license.
  • Lithuania plans regulatory changes to reduce the presence of crypto firms in the country.

Crypto exchange Bitrue has announced its successful registration as a Virtual Asset Service Provider (VASP) in Lithuania, a significant step that allows the Singapore-based platform to offer both crypto exchange and custody services in the European country.

This approval, granted by Lithuania’s Financial Crime Investigation Service, Finansinių nusikaltimų tyrimo tarnyba, underscores Bitrue’s commitment to adhering to regulatory compliance and anti-money laundering standards.

Adam O’Neill, Bitrue’s Chief Marketing Officer, emphasized the importance of regulation in fostering a legitimate cryptocurrency industry. He stated, “Regulation is a vital component towards the development and legitimization of the cryptocurrency industry, and we commend Lithuania for being a shining example of how to guide and encourage companies in this space to flourish within national frameworks.”

O’Neill also welcomed potential legislative developments globally, expressing confidence that such measures would enhance trust in web3 businesses and improve the overall safety of the industry.

Bitrue eyeing MiCA Crypto-Asset Service Provider license

The Lithuania approval comes at a pivotal time as Lithuania is set to reassess its stance on the crypto industry. Recently, Simonas Krėpšta, a board member of the Bank of Lithuania, revealed plans for a regulatory overhaul intended to reduce the presence of crypto firms in the country.

Krėpšta noted that the crypto industry has “failed in a lightly regulated environment,” citing substantial evidence of failures and embezzlement cases from the U.S. and other European nations.

The VASP registration in Lithuania aligns with Bitrue’s long-term ambitions as the company aims to pursue the Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider license.

The MiCA Crypto-Asset Service Provider license would facilitate the platform’s expansion across the European Union and the European Economic Area under the new regulatory framework. While the company has not disclosed a specific timeline for this endeavour, it has committed to providing updates on its progress.

As the regulatory landscape evolves, Bitrue’s approval marks a proactive step in navigating the complex world of cryptocurrency compliance and operations.


Share this article

Categories

Tags

Credit: Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

AYNI Gold-Backed Token: OTC Sale Begins as Gold Mining Sector Logs Increased Q2 Earnings

July 18, 2025

Ethereum bull run just starting, analyst says as whale scoops $70m ETH

July 18, 2025

IOTA Cofounder Calls for XRP Collaboration, Highlights Key Differences

July 18, 2025
Leave A Reply Cancel Reply

What's New Here!

Jack Dorsey’s Block to Join the S&P 500 Index Next Week

July 18, 2025

Lawmakers to review Trump’s CFTC chair nominee ahead of full Senate vote

July 18, 2025

President Donald Trump Officially Signs The GENIUS Act Into Law: What’s Next for Crypto?

July 18, 2025

21Shares Files for Two Crypto Fund ETFs With the U.S.SEC: Details

July 18, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.