Bitget plans US expansion ‘with or without’ Clarity Act, CEO says

Bitget is preparing to enter the United States after years of keeping its distance, according to CEO Gracy Chen, who said the expansion will happen regardless of whether Congress passes sweeping crypto legislation."With or without the Clarity Act, Bitget has already made a decision to enter the U.S. market," Chen said in an interview Tuesday with The Block's Gareth Jenkinson on The Starting Block podcast. "We’ve stayed away from the U.S. market pretty much since day one."The offshore crypto exchange, currently registered in the Seychelles, previously considered establishing a Bitget U.S. operation in 2022, Chen said. But after the collapse of FTX and what she described as the unfriendly regulatory environment that followed under the Biden administration, the company shelved its plans.But Bitget is starting to reassess and revive those plans, with Chen herself leading the expansion effort. She said the company plans to secure the necessary money-transmitter, derivatives and broker-dealer approvals before launching services."I want to enter the U.S. market in the proper way by getting all these licenses [and setting up an] individual, independent U.S.-based entity," Chen said.Chen also mentioned that Bitget has been in talks with NYSE and Nasdaq about how the exchange could help distribute tokenized versions of traditional assets, describing them as potential partners."At least at this point, we are more collaborators," Chen said. "We need to do this together with NYSE, Nasdaq, together with a lot of RWA issuance providers, as well as broker-dealer license providers in the U.S."Traditional assets accounted for between 20% and 30% of Bitget's spot trading volume during the previous quarter, while 52% of its users now hold crypto and stocks, according to Chen. The exchange's tokenized-stock products have accumulated more than $100 million in assets since launching last month, she added.Clarity Act uncertaintyChen said she has become more pessimistic about the Clarity Act's prospects as the midterm elections get closer.However, her comments came as the legislation appeared to clear one of its biggest remaining hurdles. President Trump agreed on Monday to ethics language in the bill intended to restrict how government officials can profit from digital assets while in office, an industry source told The Block.The ethics dispute, mostly focused on Trump's numerous crypto ventures, had been a major obstacle in negotiations. Updated bill text is expected in the coming days and could potentially set up a Senate vote before lawmakers leave Washington in early August.Chen said the passage could make Bitget's licensing process a bit easier and clearer, but would not change its expansion plans either way."Everything needs to be ready before we ship anything," she said.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.