The Australian Securities and Investments Commission (ASIC) has issued a warning against the crypto exchange Bitget for offering unlicensed crypto futures products to Australian investors. The regulator stated that Bitget and its parent company, BTG Technology Holdings Limited, are promoting these high-risk products without holding an Australian Financial Services (AFS) license, which is required to legally offer financial services in Australia. ASIC highlighted that Bitget's products allow leverage up to 125x, significantly exceeding the 2:1 leverage limit set by ASIC for licensed entities, thereby exposing users to substantial financial risks. The regulator emphasized that trading in highly leveraged derivatives can result in significant losses and that investors using unlicensed platforms lack the protections available to those using licensed services. This warning comes amid a broader crackdown by global regulators on unregulated crypto activities, including similar actions taken against Bitget in various jurisdictions since 2022.

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