Bitrue Secures VASP Registration in Lithuania, Eyes MiCA CASP License for EU Expansion

Vilnius, Lithuania – 28th October 2024. Bitrue Lithuania UAB is proud to announce that it has successfully been approved as a Virtual Asset Service Provider (VASP)  in Lithuania, granted by the Finansinių nusikaltimų tyrimo tarnyba FNTT (Financial Crime Investigation Service - the local FIU) with the registration number of 306725033. This registration enables Bitrue Lithuania UAB to provide digital asset exchanges services and custody wallet services. 

The achievement reinforces Bitrue’s commitment to full regulatory compliance and anti-money laundering standards, while simultaneously elevating trust and confidence in the Bitrue brand as a certified leader in the web3 industry.

“Regulation 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,” said Adam O’Neill, Chief Marketing Officer at Bitrue. “We fully welcome further legislative developments in countries around the world which will not only help deepen the trust in web3 businesses but also make the industry safer and pave the way for crypto to become mainstream within the next decade.”

In line with Bitrue’s long-term vision, the company is also actively working towards obtaining the Markets in Crypto-Assets (MiCA) Crypto-Asset Service Provider (CASP) license, enabling them to expand their services across the European Union and European Economic Area under the new regulatory framework. Further updates regarding these efforts will be published in due time.

As a result of this authorization, Bitrue will be able to continue expanding to some EU countries. The organization looks forward to further delivering its wide range of digital asset exchange services to the 30+ million consumers who are already crypto traders and investors in the region. Europe is considered a high-potential region with high levels of adoption of digital assets and Bitrue expects to capitalize on its high level of growth in the long run.