Crypto exchange Bitget has issued a formal notice confirming it does not hold a license, approval, registration or authorization from Singapore's Monetary Authority of Singapore (MAS). According to the notice dated July 21, the exchange stated that Singapore remains restricted because it lacks the required regulatory approval. The company also confirmed it does not offer or target its services to people in Singapore and restricts access to its platform from the country. Bitget emphasizes that none of its communications—including website content, mobile applications, or social media posts—should be interpreted as offers or invitations directed at Singapore residents, nor should they be understood as implying any form of regulatory approval or oversight by MAS. Users seeking additional information are encouraged to contact Bitget support.
Despite regulatory challenges, Bitget is pushing forward with plans to enter the U.S. market by seeking money-transmitter, derivatives, and broker-dealer approvals, independent of Clarity Act passage. CEO Gracy Chen is leading the renewed effort herself, stating the company wants to establish an independent U.S.-based entity before rolling out any products. Chen revealed that Bitget had considered launching a U.S. operation in 2022, but dropped the plan after the collapse of FTX and what she describes as a tougher regulatory climate under the Biden administration. The exchange's tokenized-stock products have surpassed $100 million in assets since their launch last month, reflecting rapid growth in hybrid crypto-traditional asset offerings. Chen confirmed that "With or without the Clarity Act, Bitget has already made a decision to enter the U.S. market," emphasizing that the launch will still depend on regulatory approvals being in place before entering the market.
Traditional assets now account for 20-30% of Bitget's spot trading volume in the previous quarter, while 52% of users now hold both crypto and stocks. According to Chen, this growth in traditional asset adoption is driving the company's decision to expand into the U.S. market. The exchange has submitted an application for authorization under the European Union's Markets in Crypto-Assets Regulation to Austria's Financial Market Authority, which remains under review. Chen revealed that Bitget has held discussions with the New York Stock Exchange and Nasdaq about distributing tokenized traditional assets, describing the exchanges as collaborators as platforms across the financial sector bring stocks onto blockchain-based systems.
The CLARITY Act uncertainty will not determine whether Bitget enters the U.S. market, as Chen has become less confident that Congress will pass the bill before the midterm elections. The legislation seeks to create a federal framework for digital assets and divide oversight responsibilities between agencies including the SEC and CFTC. While the House passed an earlier version, the Senate still needs enough Democratic support to reach the 60-vote threshold, with revised legislative text not yet publicly released. Chen noted that "clearer federal rules could simplify parts of the licensing process," but emphasized that the company's expansion plan no longer depends on that outcome. The U.S. launch may require a different structure from products available elsewhere, with securities rules, broker-dealer requirements and derivatives oversight determining which services Bitget can offer.
MAS currently includes Bitget on its Investor Alert List, which identifies entities that members of the public could wrongly believe hold authorization or regulatory approval in Singapore. As reported by crypto.news, inclusion on the list does not by itself amount to an enforcement finding or a determination of wrongdoing. The regulator introduced a licensing framework for digital token service providers operating from Singapore and serving customers outside the country, with rules taking effect on June 30, 2025.
