- Cryptocurrency exchange Bitget has suspended registrations in China.
- The exchange hinted at an imminent announcement.
- Bitget recently halted operations in Hong Kong.
Cryptocurrency exchange and Web3 company Bitget has been making significant changes that suggest a shift in its operations within the Asia-Pacific region.
Following its exit from Hong Kong, one of the leading crypto hubs in the APAC, Bitget has now declared a similar decision directed at users in China.
Suspension of Registrations Ahead of Major Announcement
In a blog post on December 1, Bitget announced the suspension of new user onboarding within Mainland China.
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As per the official release, the exchange is involved in a negotiation expected to contribute to its expansion.
“Bitget is currently negotiating a major investment. This strategic decision will bring us more opportunities and room for growth.”
Bitget announced the suspension of operations on its Hong Kong subsidiary, BitgetX, on November 13, marking its complete exit from the region.
While the exchange did not state explicit reasons for its exit from the region, rumors circulated within the cryptocurrency community, suggesting a potential acquisition or major investment in the Hong Kong-based exchange OSL.
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Bitget encouraged users to watch out for pertinent updates relevant to imminent announcements.
Read more about Bitget’s approach to regulatory compliance in users registration:
Bitget Sets Stricter KYC Requirements: What You Need to Do
Negotiations are intensifying between KyberSwap and its $47M hacker. Find out more:
KyberSwap’s $47M Remains Hostage, Hacker Shares New Demands
