SINGPORE, Dec. 10, 2021 /PRNewswire/ — The derivative exchange Bitget recently denied a report by Financial Time alleging that the platform was suspended from operation in Singapore for being mired in a row involving K-pop band BTS. The company strongly believes that the report has delivered erroneous and unverified information to its users, partners, and the broader media community.
The exchange clarifies that it has submitted materials to the Monetary Authority of Singapore and is now queuing for a license. There is no such suspension due to any of the reasons described in the news report. Regarding the dispute involving Army coin, Bitget has immediately delisted the token as soon as it spotted its infringement issue. The platform has also asked the project owner to take responsibility for any disputes arising in relation to this matter and protect the rights and interests of users.
Regarding the issue related to Army coin, Bitget says it has always put user asset security in the first place and established a strict review process to ensure only qualified projects can be listed. It will further tighten up scrutiny and listen to the voice of users through enhanced interaction.
Bitget has maintained a healthy operation as a global trading platform for 3 years. It actively seeks to comply with local regulations and has secured licenses in multiple countries. Partnering with the Italian soccer giant Juventus and Esports platform PGL, Bitget has built up a good reputation as a credible exchange worldwide.