Cryptocurrency exchange Bitget has relaunched its application in the United Kingdom after temporarily restricting access to comply with local laws.

The exchange confirmed on Nov. 12 that it had reactivated its UK website, now in full compliance with the financial promotions regime, Bitget told Cointelegraph.

The relaunch comes a few months after Bitget restricted its website in the UK in accordance with the financial promotions regime in May.

Bitget relaunches UK platform after compliance update with FCA rules image 0

Bitget’s announcement on restricting UK users in May 2024. Source: Bitget


“Bitget has been monitoring the new Financial Promotions regime and decided to temporarily suspend accepting new customers until we have recalibrated our UK website to ensure we comply with the new regime,” a spokesperson for Bitget told Cointelegraph.

Bitget secures approval from Archax

Bitget’s app relaunch in the UK is enabled through Archax approval for FinProm and promotion in the UK. The crypto exchange received Archax’s approval in the second quarter of 2024.

“Archax is an independent Financial Promotions and Marketing reviewer authorized by the FCA to review content to ensure it is compliant with FCA Financial Promotions requirements,” a spokesperson for Bitget told Cointelegraph.

According to data from the FCA website, Archax has been registered with the authority since 2020 and can review and approve financial promotions.

Bitget offers a range of crypto services in the UK

With Archax approval, Bitget users in the UK can access a range of crypto services on the platform, including trading and custody of a number of crypto assets, including tokenized real-world assets.

“Bitget has over 150 tokens available in the UK, more than twice that of other exchanges,” a spokesperson for the firm told Cointelegraph.

Related: UK-based pension scheme makes 3% Bitcoin allocation

“The entrance into the UK market under the regime allows us to bring users a wide variety of digital assets within the everchanging crypto landscape,” Bitget CEO Gracy Chen said.

The UK government officially introduced the FinProm regime for cryptocurrency firms in 2023, following a series of public consultations since 2021.

The main goal of the FinProm rules is to ensure that consumers understand the risks associated with crypto assets and that crypto asset financial promotions to UK consumers are fair, clear and not misleading.

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