Bitget intends to launch in the United States, even if the CLARITY Act doesn’t become law, says CEO Gracy Chen.
Summary
- Bitget plans its regulated U.S. launch regardless of whether Congress passes the CLARITY Act bill.
- Chen says Bitget will seek money-transmitter, derivatives and broker-dealer approvals before offering services to Americans.
- Tokenized traditional assets now drive growing activity as Bitget explores collaboration with NYSE and Nasdaq.
The exchange is restarting plans to grow, which were put on hold after the failure of FTX in 2022 and increased scrutiny from regulators.
Chen is spearheading an effort to create a U.S.-based operation for Bitget before it begins offering its services in the country. As part of this plan, the company intends to obtain necessary licenses – including those for money transmission, derivatives trading, and acting as a broker-dealer – prior to launch.
Bitget revives U.S. expansion after years on sidelines
In 2022, Bitget explored launching a U.S.-based operation but paused those plans due to growing legal challenges and uncertainty in the cryptocurrency market. However, according to Chen, the company has now decided to move forward with re-entering the United States.
Bitget had already planned to launch in the U.S., regardless of whether the Clarity Act passed, according to the speaker.
As I understand it, the timing of this launch is still contingent on receiving the necessary regulatory approvals. Bitget’s CEO, Chen, has emphasized their commitment to securing licenses *before* they begin offering services in the U.S. They plan to do this by establishing a completely separate, independent entity based here – effectively keeping the U.S. business distinct from their existing international operations.
As a crypto investor, I’ve been watching Bitget closely, and it looks like they’re really making an effort to play by the rules in different countries. They recently applied for MiCAR approval in Austria – that’s a big step towards being fully compliant with European regulations. Plus, they’re expanding into places like Argentina while smartly avoiding markets where crypto is heavily restricted. It seems like they’re focused on sustainable growth through proper licensing and registration.
Tokenized stocks become part of Bitget’s U.S. strategy
Bitget is looking to do more than just typical cryptocurrency trading in the U.S. According to Chen, they’ve been talking with both the New York Stock Exchange and Nasdaq about offering traditional assets – like stocks – as tokens on a blockchain. She sees these exchanges working together to bring more financial products onto blockchain technology.
These discussions are happening as Bitget increasingly offers investments in traditional stocks and shares through a digital format. According to Chen, these types of assets made up 20-30% of the exchange’s trading volume last quarter. She also noted that over half of their users (52%) now invest in both cryptocurrencies and stocks, and the value of all tokenized stock holdings on the platform has surpassed $100 million.
Bitget has expanded its trading options by adding over 100 tokenized U.S. stocks to its margin system, joining more than 370 other tradable assets, according to a July 16 report from crypto.news. Through their Reality platform, Bitget offers tokenized stocks and ETFs that are fully backed 1:1, and these can even be used as collateral for trading.
Launching in the U.S. might need a different approach than other countries. Regulations around investments, brokerage firms, and derivatives trading will impact what services Bitget can provide and how customers use them. According to Chen, the company is waiting for these approvals before expanding into the American market.
CLARITY uncertainty will not decide Bitget’s entry
According to Chen, the CLARITY Act might simplify regulations in the crypto space. However, she’s increasingly doubtful that Congress will approve it before the upcoming midterm elections. The proposed law aims to establish national rules for digital assets and clarify which agencies – like the SEC and CFTC – would oversee them.
Progress on the bill picked up this week when the White House agreed to ethics rules that had been holding up talks. But, as crypto.news noted, the Senate still needs to get enough Democrats on board to reach the 60 votes needed for passage, and the latest version of the bill wasn’t available to the public as of July 22nd.
The House of Representatives has already approved a version of the CLARITY Act, but it still needs to be passed by the Senate. If the two versions differ, lawmakers will need to reconcile those differences. According to Chen, these uncertainties won’t stop Bitget from potentially entering the U.S. market, though more defined federal regulations could make obtaining licenses easier.
Bitget is changing how it operates in different countries. Recently, on July 22nd, the exchange stated it doesn’t have a license to operate in Singapore and considers it a restricted market. Bitget is not currently serving customers in Singapore, but is still working to comply with regulations in other regions.
The company is still waiting for approval of its MiCAR application in Austria. However, it has already started operating under regulations in other countries, such as Argentina. Its plan for the U.S. mirrors this strategy: set up a local business entity, get all necessary permissions, and then begin offering services.
Bitget hasn’t announced when it will launch in the U.S., but according to Chen, the company is now actively working on the necessary licensing. While the CLARITY Act could change some U.S. regulations if approved by Congress, Bitget’s plans to expand into the U.S. are no longer contingent on it.
2026-07-22 13:05