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El Salvador grants Bitget a Bitcoin license amid $362 million profit boom
In a recent development, El Salvador has granted a Bitcoin license to Bitget, a Seychelles-based cryptocurrency exchange platform. This move comes as a surprise given that Bitcoin adoption in El Salvador remains low despite President Nayib Bukele’s efforts.
Just two months ago, Bitcoin donates 2 Bitcoins towards building 1,000 schools in Honduras. Meanwhile, the latest data suggests that Bitget has experienced a massive $362 million profit boom, prompting questions about the regulatory environment surrounding cryptocurrency trading in the country.
As reported by CryptoSlate, Bitcoin adoption in El Salvador remains low despite President Bukele’s best efforts. Despite this lack of traction, it is interesting to see Bitget being granted a license, especially considering its recent financial performance.
The news comes as a significant step for the digital asset ecosystem, given that other exchanges have faced difficulties in securing licenses due to unclear regulatory frameworks.
Source: cryptoslate.com
