On 6 August 2026, the Cayman Islands Monetary Authority (CIMA) issued a public notice concerning the regulatory status of BitMart and several related entities. CIMA stated that BitMart has never been registered, licensed, regulated or otherwise authorised by the Authority to conduct virtual asset service provider business in or from the Cayman Islands. The notice followed multiple complaints received by CIMA concerning references to BitMart and its purported Cayman Islands regulatory status. CIMA also identified BitMart Exchange and several GBM and Bachi entities within its clarification. The Authority reminded the public that businesses providing, or purporting to provide, virtual asset services in or from the Cayman Islands must comply with the registration or licensing requirements under the Virtual Asset (Service Providers) Act (2024 Revision). CIMA advised the public to exercise caution where false representations are made concerning the Entities' Cayman Islands regulatory status.1
CIMA Clarifies BitMart's Cayman Islands Regulatory Status
CIMA issued the notice after receiving multiple complaints concerning references to BitMart and its purported regulation within the Cayman Islands.1 The Authority stated: "The Authority wishes to clarify that BitMart, BitMart Exchange, GBM Global Inc., bachi.tech Ltd, Bachi.Tech Corporation, GBM Global Ltd, GBM Foundation Company Ltd., GBM Foundation Company, GBM Global Holding Company Limited and GBM Global (collectively, 'the Entities') 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 within the Cayman Islands."
Virtual Asset Businesses Require CIMA Registration or Licensing
CIMA's notice also reiterates the statutory position applicable to virtual asset service providers operating in or from the Cayman Islands. The Authority stated: "Pursuant to the Virtual Asset (Service Providers) Act (2024 Revision), any person that carries on, or purports to carry on, virtual asset services as a business or in the course of business, in or from within the Cayman Islands, must be duly registered with, or, where applicable, licensed by the Authority." The notice therefore distinguishes between the regulatory status of the named Entities and the statutory requirements governing persons conducting virtual asset services from the jurisdiction.2
CIMA Advises Public to Exercise Caution
The Authority advised members of the public to exercise caution when dealing with the named Entities where false representations are made concerning their Cayman Islands regulatory status.1 CIMA stated: "Members of the public are therefore advised to exercise caution when dealing with, or considering any involvement with, the Entities, where false representations are made concerning their regulatory status in the Cayman Islands."
Footnotes
- Cayman Islands Monetary Authority, ‘BitMart Not Regulated by CIMA’, General Industry Notice, 6 August 2026.
- Virtual Asset (Service Providers) Act (2024 Revision), Cayman Islands. CIMA's notice states that any person carrying on, or purporting to carry on, virtual asset services as a business or in the course of business, in or from within the Cayman Islands, must be registered with, or where applicable licensed by, CIMA.
- Cayman Islands Monetary Authority, ‘BitMart Not Regulated by CIMA’, 6 August 2026. The notice identifies BitMart, BitMart Exchange, GBM Global Inc., bachi.tech Ltd, Bachi.Tech Corporation, GBM Global Ltd, GBM Foundation Company Ltd., GBM Foundation Company, GBM Global Holding Company Limited and GBM Global.
- Ibid. CIMA advises members of the public to exercise caution where false representations are made concerning the named Entities' regulatory status in the Cayman Islands.
- Ibid. Persons with concerns or complaints regarding the Entities are advised to contact the financial crime or regulatory enforcement authorities in their respective jurisdictions.
