BitMart et al. not Regulated by CIMA (2026-08-06)

Summary

This is a public warning notice from CIMA clarifying 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 are not, and have never been, registered, licensed or otherwise authorised by CIMA to conduct virtual asset service provider business in or from the Cayman Islands. It was issued in response to multiple public complaints about claims linking these entities to Cayman regulation.

• Named entities: 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 are confirmed unregulated by CIMA.
• Legal basis: Under the Virtual Asset (Service Providers) Act (2024 Revision), anyone carrying on or purporting to carry on virtual asset services business in or from the Cayman Islands must be registered with, or licensed by, CIMA.
• Public advisory: Members of the public are advised to exercise caution before dealing with the named Entities given false representations about their regulatory status.
• Complaints route: Anyone with concerns or complaints about the Entities should contact the financial crime or regulatory enforcement authorities in their own jurisdiction, not CIMA.

The notice does not create new licensing requirements but reiterates existing VASP Act obligations and serves to protect the public and legitimate industry from misrepresentation of regulatory status.

Key obligations

• Any person carrying on, or purporting to carry on, virtual asset services as a business in or from within the Cayman Islands must be duly registered with, or licensed by, CIMA under the Virtual Asset (Service Providers) Act (2024 Revision).

Applies to

virtual asset service providers, members of the public