Bitget Slams Media Report, Says it Is in Line to Receive SG Licence

Bitget, a cryptocurrency derivatives exchange expresses that a recently published report by the Financial Times which claims that the platform was suspended from operating in Singapore due to involvement with the listing of BTS, a fan-made cryptocurrency dedicated to a popular K-pop band of the same name, is false. 

Bitget points out that the incorrect report is highly misleading and delivers a false message to the platform’s users, partners, and the broader cryptocurrency community. 

The exchange clarified that it has submitted relevant legal and financial materials to the Monetary Authority of Singapore and is queued for a license. As of the time of writing, no suspension related to the reasons described in the news report exist. 

Concerning the dispute involving Army coin (BTS), Bitget has delisted the crypto-asset immediately upon discovery of there being a potential infringement issue. The exchange has also reached an agreement with the project owners, who are to take responsibility for any potential disputes arising in relation to this matter and to protect the rights and interests of Bitget users.