Bitget EU has recently filed an application for authorization as a crypto-asset service provider under the Markets in Crypto-Assets regulation (MiCAR) with Austria’s Financial Market Authority (FMA). This application, reported in a June update, is now undergoing regulatory review.
The exchange stated that its current users on Bitget Global will continue to be governed by the existing platform’s terms and legal arrangements. This announcement comes as Bitget is intensifying its efforts to secure a foothold in the European market ahead of impending licensing deadlines set for this month.
In its official communication, Bitget affirmed that the submission is officially under review by the FMA, which is the authority responsible for evaluating the application. The exchange expressed its intentions to offer various crypto-asset services across the European Union if the application is approved and all regulatory measures are met. Nonetheless, the company acknowledged that the timing, scope, and outcome of the authorization depend entirely on the FMA’s assessment.
Gracy Chen, Bitget CEO, shared the news on social media, informing the community about the progress of the MiCAR application. She clarified that the application should not be interpreted as having received approval or endorsement from the FMA or any other body, reinforcing that it remains an active filing rather than a secured license.
Regarding existing users, Bitget reiterated that current customers on Bitget Global would still be bound by the ongoing terms and legal arrangements governing access to the platform’s products and services. Additionally, user funds have been assured to remain secure, with a feature in place for users to verify their assets through Bitget’s proof-of-reserves page. Access to any assets will still be regulated by the platform’s established terms and conditions.
MiCAR stipulates that crypto-asset service providers must seek authorization prior to offering covered services within the EU framework. The FMA mandates that applicants submit authorization requests under the specified articles of MiCAR.
Bitget’s strategy has been prominently centered in Vienna, following the appointment of Oliver Stauber—a former executive at both KuCoin EU and Bitpanda—as the CEO of Bitget EU. The Vienna office is designed to serve as the regulatory-ready headquarters for the company in Europe, focusing on compliance, governance, and supervisory interactions across the European Economic Area.
This latest development shows that Bitget’s plan to establish a strong presence in Europe has progressed to the formal review phase by the Austrian regulator, offering insights into the company’s standing but not confirming any approval.
As the EU tightens its regulations, businesses without the appropriate authorizations may face restrictions on how they serve clients within the region once the transitional windows close. This backdrop is shaping the strategic landscape for crypto exchanges across Europe.
In line with these regulatory shifts, other firms are also adapting. For instance, BitGo announced the launch of MiCA-compliant infrastructure that allows European crypto businesses to utilize regulated custody and wallet services while they seek their own authorizations. This move highlights the industry’s ongoing adjustments to EU legislative demands.
Additionally, Bitget continues to expand its offerings by launching new regulated and tokenized products, including a platform called Reality that allows for trading tokenized U.S. stocks and ETFs, backed 1:1 through licensed brokers.
