The Bitget exchange team commented on the MAS license revocation information published in the media last week. The exchange continues to operate in Singapore and is awaiting a regulatory license.
Last Sunday, the Financial Times published an article according to which the Bitget cryptocurrency exchange lost its Monetary Authority of Singapore (MAS) license and ceased trading in the country in connection with the exchange’s proceedings with the Hybe Corporation, the sponsor of the Korean music group BTS. After the FT was published, this information spread to other media and social networks.
According to Bitget, the statements in the Financial Times article are false and misleading to users and partners of the company. Representatives of the exchange in the territory of the Russian Federation and the CIS note that Bitget did not suspend trading in Singapore.
In addition, the regulator did not revoke the exchange’s license. Like many other cryptocurrency firms, Bitget applied for a license a few months ago and is still awaiting approval from the Singapore regulator. The current situation did not in any way affect the status of the application and its consideration by the MAS.
Gleb Jout, Development Director of Bitget in Russia and the CIS, commented on the situation:
“The exchange has submitted all the relevant documents to the Monetary Authority of Singapore and is in the queue for a license. There was no suspension of the stock exchange, as stated in an article from the Financial Times. This news does not affect users from the Russian Federation and the CIS in any way. ”
In October, sponsor of popular music group BTS, Hybe Corporation, accused Bitget of misusing the group’s image and spreading false information that the coin was made for BTS.
As noted by the exchange team, the BTS coin itself was removed from Bitget’s listing shortly after a misunderstanding arose. Issuer BTS agreed to take responsibility for any misunderstanding arising from the original listing.
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