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Bitget Eyes Resumption of Yuan Trading Amid Regulatory Uncertainty

Guavy AI Editorial Team
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Bitget, a Seychelles-based cryptocurrency exchange, is reportedly planning to resume its peer-to-peer (C2C) trading service for the Chinese yuan. The service has been suspended since 2021 due to regulatory crackdowns on cryptocurrency trading in China.

According to crypto analyst AB Kuai.Dong, Bitget has been recruiting industry personnel with high salaries and internally views the C2C yuan service as one of its most important initiatives this year, alongside its U.S. stock trading service.

The move could have significant implications for the crypto market, potentially signaling a cautious reopening of the Chinese market to crypto services. Analysts note that any such move would need to navigate complex legal and operational risks, including anti-money laundering (AML) requirements and potential sanctions.

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