ASIC has issued a public warning against Bitget for allegedly offering high-risk unlicensed crypto futures products to Australian investors. The regulator emphasizes that Bitget and its parent company lack the necessary Australian Financial Services (AFS) license, which prohibits them from promoting their financial products in Australia. The warning highlights that the leverage offered by Bitget, up to 125 times, significantly surpasses ASIC's limit of 2:1 for licensed crypto derivatives, exposing investors to substantial financial risks. This warning reflects a broader trend of regulatory scrutiny on crypto platforms globally, with similar actions taken in various countries. Without an AFS license, users of Bitget are not entitled to essential investor protections. The lack of regulatory clarity in Australia has raised concerns among industry stakeholders, impacting innovation in the digital assets sector.

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