The Australian Securities and Investments Commission (ASIC) has issued a warning against Bitget for promoting unlicensed crypto futures products to Australian investors. Bitget, along with its parent company BTG Technology Holdings Limited, lacks an Australian Financial Services (AFS) licence, which prohibits them from offering financial products in the region. ASIC highlighted that Bitget offers high-risk crypto futures with leverage up to 125:1, significantly exceeding Australia's regulatory limit of 2:1. This poses substantial risks to investors, as leveraged trading can result in significant financial losses. The warning follows a global trend of regulators tightening control over digital asset exchanges, with similar actions taken in multiple countries since 2022. Bitget is currently registered with Australia’s financial intelligence agency, AUSTRAC, but this does not cover the licensing required for derivatives trading. ASIC's initiative aims to enhance investor protection amid increasing concerns over speculative and unregulated financial products. The regulator emphasized that without an AFS licence, users of Bitget have limited recourse if issues arise with their investments.

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