The Australian Securities and Investments Commission (ASIC) has issued a warning against Bitget, claiming the crypto exchange is targeting Australian investors with unlicensed crypto futures products. Bitget is accused of lacking an Australian Financial Services (AFS) license, which prevents it from promoting or offering financial products to Australian investors. The warning highlights that Bitget's leveraged products, which can offer up to 125x leverage, exceed ASIC's limit of 2:1 for licensed derivatives, posing significant financial risks to users. This regulatory action is part of ASIC's broader effort to protect retail investors from complex and speculative crypto financial products. International regulators have previously raised concerns about Bitget, marking a trend of caution regarding high-risk trading practices in various jurisdictions including Spain, Japan, and Germany.

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