The Australian Securities and Investments Commission warns that Bitget's offerings of high-leverage crypto futures products lack proper licensing, posing risks to investors.
The Australian Securities and Investments Commission (ASIC) has issued a warning against Bitget for offering unlicensed crypto futures products with 125:1 leverage without an Australian Financial Services (AFS) license. The regulator emphasizes that it limits leverage for crypto derivatives to 2:1, highlighting the risks associated with highly leveraged trading. Bitget is allowed to provide exchange services in Australia but is not licensed for financial services. This warning follows similar alerts from regulators in Germany, Canada, France, and others regarding Bitget's unlicensed offerings.