The Australian Securities and Investments Commission (ASIC) has issued a public warning against Bitget, alleging that the exchange is promoting high-risk crypto futures products to Australian investors without the necessary license. Bitget and its parent company, BTG Technology Holdings Limited, are accused of offering unlicensed cryptocurrency futures that allow leverage of up to 125 times, significantly above ASIC's 2:1 limit designed to protect retail investors. ASIC emphasized that investing in such unregulated products exposes users to the risk of substantial financial losses and deprives them of essential consumer protections, such as internal dispute resolution processes. The warning aligns with increasing regulatory scrutiny on crypto entities globally, as multiple jurisdictions have taken action against Bitget for similar issues. This situation highlights the challenges faced by exchanges in obtaining licenses for complex financial products in Australia, as regulatory standards evolve to keep pace with the digital asset landscape.

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