ChainCatcher news, according to News.bitcoin, the Seychelles National Assembly has approved a draft bill aimed at regulating virtual asset service providers (VASP). The bill requires VASPs seeking a license to establish a substantive business in Seychelles, such as having a resident director and an office staffed with capable employees. The law aims to balance innovation with anti-money laundering efforts, in compliance with the recommendations of the Financial Action Task Force (FATF).

ChainCatcher news, cryptocurrency exchange Bitget has completed registration in Seychelles under the 2016 International Business Companies Act to support its global expansion plans. Currently, Bitget operates in a distributed work model without a designated headquarters, but has regional centers in key markets such as Asia and Latin America, with plans to establish more regional centers in Europe and Africa in the future.In addition, Bitget plans to enhance its hiring targets, expecting to increase its workforce to 1,200 by the first quarter of 2023, which is a 50% increase from its current size, to better meet user demands and support business growth. So far, Bitget has grown from 450 employees in June 2022 to over 800, marking a 78% increase in just four months, and will add another 50% to its workforce in the first quarter of next year, primarily involving engineers as well as members of the product, marketing, and branding teams. (source link)