ASIC Warns Bitget Over Unlicensed 125x-Leveraged Crypto Futures
The Australian Securities and Investments Commission (ASIC) has issued a formal warning to Bitget, a cryptocurrency exchange, for offering unlicensed crypto futures to Australian investors without holding an Australian Financial Services (AFS) licence [1]. The regulator highlighted that Bitget’s derivatives, which feature leveraged positions of up to 125:1, expose users to heightened risks due to the absence of investor protections typically afforded by licensed entities [3]. This action follows months of scrutiny by ASIC on unregulated crypto platforms operating in the Australian market, with the regulator emphasizing that unlicensed services lack compliance with disclosure requirements and dispute resolution mechanisms [4].
The…
