The Australian Securities and Investments Commission (ASIC) has issued a public warning against Bitget, accusing the crypto exchange of promoting unlicensed cryptocurrency futures products to Australian investors. Bitget does not possess an Australian Financial Services (AFS) license, which restricts it from offering its financial products in Australia. The regulator raised concerns about the significant risks associated with Bitget's offerings, including leverage of up to 125:1, far exceeding ASIC's limit of 2:1 for licensed crypto derivatives. This situation exposes investors to potential substantial financial losses, as unlicensed products lack critical protections such as internal dispute resolution. ASIC's warnings align with global regulatory trends, as multiple jurisdictions, including Spain and Japan, have similarly scrutinized Bitget's operations. The warning highlights the ongoing regulatory efforts to safeguard retail investors from complex and speculative crypto financial products. In an era of enhanced scrutiny, the need for clearer guidelines on crypto product licensing in Australia is emphasized, reflecting the challenges exchanges face in the rapidly evolving digital asset landscape.

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