Bitget Joins Japan Blockchain Group Amid Self-Custody Policy Debate

Crypto wallet provider Bitget has joined Japan's Blockchain Collaborative Consortium (BCCC), a move that could help shape the country's blockchain policy.

The BCCC is comprised of 270 companies and organizations working together in various fields, including blockchain, finance, and technology. By joining the group, Bitget aims to share its experience operating self-custodial wallets across global markets.

Bitget claims to serve over 100 million users and support more than 130 blockchain networks. The company's self-custodial wallet allows users to have direct control over their assets, with the wallet provider supplying the software but not holding the assets on behalf of the users.

This move comes as Japan is debating how to differentiate between companies that hold customers' crypto and wallets that allow users to control their own assets. Alvin Kan, Chief Operating Officer at Bitget Wallet, stated: 'As self-custody becomes part of the formal policy discussion, the industry needs standards that protect users without losing sight of how these products actually work.'

Membership in the BCCC does not grant Bitget regulatory approval or a Japanese license. The consortium is an association, not a government entity, and membership only brings the company into broader discussions about Japan's oversight of crypto-related services.