The Australian Securities and Investments Commission (ASIC) has issued a warning against Bitget, accusing the crypto exchange of offering unlicensed crypto futures products targeted at Australian investors. This warning highlights that Bitget does not hold an Australian Financial Services (AFS) license, which is necessary to promote financial products within Australia. ASIC noted that Bitget’s offerings feature leverage of up to 125x, significantly exceeding the regulator's limit of 2:1, thus exposing users to substantial financial risks. This warning aligns with a broader regulatory crackdown worldwide, as multiple jurisdictions have taken similar actions against Bitget since 2022. ASIC emphasized that trading in unregulated products presents difficulties for investors seeking recourse if issues arise, as they lack access to consumer protection mechanisms. Additionally, it was pointed out that without an AFS license, users of Bitget are not afforded protections such as dispute resolution or client money safeguarding. The agency's alert reflects an ongoing commitment to safeguarding retail investors from complex and unregulated financial products in the cryptocurrency domain.

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