The Australian Securities and Investments Commission (ASIC) has issued a warning against Bitget for offering unlicensed crypto futures products to Australian investors. ASIC highlighted that Bitget lacks an Australian Financial Services (AFS) license, thus is prohibited from promoting its financial products in Australia. The regulator emphasized that Bitget's offerings, which provide leverage of up to 125 times, significantly exceed the legal limit of 2:1 for licensed derivatives, posing substantial financial risks for investors. This move follows a series of global regulatory actions against Bitget in various countries since 2022. ASIC aims to protect retail investors from complex financial products that lack adequate regulation. The warning illustrates ongoing challenges in the crypto sector regarding compliance and investor safety, especially as many exchanges struggle to adapt to the evolving regulatory landscape.

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