Derivatives exchange Bitget issued a statement saying, “A recent report by the Financial Times claiming the platform was suspended from operation in Singapore for being mired in a row involving K-pop band BTS was inaccurate.” Bitget points out that the incorrect report is highly misleading, as it delivers a false message to its users, partners and the broader media community.

The exchange clarified that it has submitted materials to the Monetary Authority of Singapore and is now waiting for a license. There is no such suspension for any of the reasons described in the news report. Regarding the dispute involving Army Coin, Bitget delisted the token as soon as it spotted the infringement issue. The platform has also asked the project owner to take responsibility for any disputes arising in relation to this matter and to protect the rights and interests of users.

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