Bitget Claims It Has a Crypto License in Georgia

Today, Bitget announced on its blog that it has obtained a crypto license in Georgia.

It’s not the first exchange to make this kind of claim. Several others have mentioned Georgian licenses before – the most well-known being Bybit.

But every time I read such announcements, I can’t help but ask:

• Which authority issued the license?
• And what exactly is the license for?

The second question is key. Georgia has a Law on Licenses and Permits that outlines exactly which types of activities require licensing. It covers everything from baby food production to arms trading. And guess what? Operating a cryptocurrency exchange isn’t one of them.

So here’s the catch: there is no such thing as a Georgian license to run a crypto exchange.

So what did Bitget actually receive? One might assume it was a simple VASP (Virtual Asset Service Provider) registration – something Bybit has also referred to as a "license" in the past. But this time it’s trickier. According to Bitget’s own press release, they seem to understand the difference between registration and licensing. Here’s what they wrote:

"In addition, Bitget's recent licenses in El Salvador and registration in Argentina adds depth to its reach... The newly acquired license in Georgia builds on this momentum."

Which begs the question: what is this “license in Georgia” actually for?

Until Bitget provides a clear answer, this just feels like smoke and mirrors.

My advice? Stick with platforms that are transparent. If a license isn’t required, they’re honest about it - no smoke, no mirrors.

That’s exactly how things work at rabbit.io.