{"id":40344,"date":"2024-10-28T20:44:40","date_gmt":"2024-10-28T20:44:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitrue-gets-virtual-asset-service-provider-approval-in-lithuania\/"},"modified":"2024-10-28T20:44:40","modified_gmt":"2024-10-28T20:44:40","slug":"bitrue-gets-virtual-asset-service-provider-approval-in-lithuania","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitrue-gets-virtual-asset-service-provider-approval-in-lithuania\/","title":{"rendered":"Bitrue gets Virtual Asset Service Provider approval in Lithuania"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/11\/1647613578156-e50db72c-5da7-4a89-8b3a-6f69784cdca4-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/11\/1647613578156-e50db72c-5da7-4a89-8b3a-6f69784cdca4-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/11\/1647613578156-e50db72c-5da7-4a89-8b3a-6f69784cdca4-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2022\/11\/1647613578156-e50db72c-5da7-4a89-8b3a-6f69784cdca4-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Bitrue has received VASP approval in Lithuania to offer crypto exchange services.<\/li>\n<li>The company aims for EU expansion by pursuing the Markets in Crypto-Assets license.<\/li>\n<li>Lithuania plans regulatory changes to reduce the presence of crypto firms in the country.<\/li>\n<\/ul>\n<p>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.<\/p>\n<p>This approval, granted by Lithuania\u2019s Financial Crime Investigation Service, Finansini\u0173 nusikaltim\u0173 tyrimo tarnyba, underscores Bitrue\u2019s commitment to adhering to regulatory compliance and anti-money laundering standards.<\/p>\n<p>Adam O\u2019Neill, Bitrue\u2019s Chief Marketing Officer, emphasized the importance of regulation in fostering a legitimate cryptocurrency industry. He stated, \u201cRegulation 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.\u201d<\/p>\n<p>O\u2019Neill 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.<\/p>\n<h2>Bitrue eyeing MiCA Crypto-Asset Service Provider license<\/h2>\n<p>The Lithuania approval comes at a pivotal time as Lithuania is set to reassess its stance on the crypto industry. Recently, Simonas Kr\u0117p\u0161ta, 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.<\/p>\n<p>Kr\u0117p\u0161ta noted that the crypto industry has \u201cfailed in a lightly regulated environment,\u201d citing substantial evidence of failures and embezzlement cases from the U.S. and other European nations.<\/p>\n<p>The VASP registration in Lithuania aligns with Bitrue\u2019s long-term ambitions as the company aims to pursue the Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider license.<\/p>\n<p>The MiCA Crypto-Asset Service Provider license would facilitate the platform\u2019s 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.<\/p>\n<p>As the regulatory landscape evolves, Bitrue\u2019s approval marks a proactive step in navigating the complex world of cryptocurrency compliance and operations.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitrue-gets-virtual-asset-service-provider-approval-in-lithuania\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) 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 [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":40345,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40344"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=40344"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40344\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/40345"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=40344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=40344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=40344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}