Cayman Islands Monetary Authority warns BitMart entities have never been authorised for virtual asset services

The Cayman Islands Monetary Authority issued a public notice following multiple complaints about claims concerning BitMart’s regulatory status. It clarified that BitMart, BitMart Exchange and the related GBM and Bachi entities named in the notice are not, and have never been, registered, licensed, regulated or otherwise authorised by the authority to conduct virtual asset service provider business in or from the Cayman Islands. Anyone carrying on, or purporting to carry on, virtual asset services as a business in or from the Cayman Islands must be registered or, where applicable, licensed under the Virtual Asset (Service Providers) Act. The authority advised the public to exercise caution when dealing with the entities where representations are made about their Cayman Islands regulatory status and to direct concerns or complaints to the relevant authorities in their jurisdictions.