Bitget is buying a license, not building one. The exchange announced a planned acquisition of GMO-Z.com Cryptonomics, a Bangkok-based licensed digital asset exchange running Z.com EX, through its interest in BTGT Management (Thailand). Completion still needs regulatory approval, with GMO's own September 24 filing targeting an October 31 close.
The timing is the story. This comes three weeks after a September 24 attack on Bitget's hot and warm wallet infrastructure, and days after the exchange cut service for users in certain jurisdictions. Thailand itself is on Bitget's prohibited list today — a licensed local operator would flip that overnight.
Exchanges are increasingly shopping for compliance rather than jurisdictions. CEO Gracy Chen framed it as a long-term Southeast Asia commitment. The open question: does a Thai license actually repair the trust hit, or is it just regulatory window-dressing? DYOR, as always.
#CryptoNews #Exchanges #Bitget
The timing is the story. This comes three weeks after a September 24 attack on Bitget's hot and warm wallet infrastructure, and days after the exchange cut service for users in certain jurisdictions. Thailand itself is on Bitget's prohibited list today — a licensed local operator would flip that overnight.
Exchanges are increasingly shopping for compliance rather than jurisdictions. CEO Gracy Chen framed it as a long-term Southeast Asia commitment. The open question: does a Thai license actually repair the trust hit, or is it just regulatory window-dressing? DYOR, as always.
#CryptoNews #Exchanges #Bitget