Australian Regulator Alerts Public to Bitget’s 125x Leveraged Crypto Futures

The Australian Securities and Investments Commission (ASIC) has issued a warning regarding the cryptocurrency exchange Bitget, specifically concerning its offering of cryptocurrency futures products with leverage up to 125x to Australian investors. ASIC emphasized that these products carry significant risk and could result in substantial losses for inexperienced traders. Furthermore, ASIC pointed out that Bitget lacks an Australian license to provide these services, making its operations in the country unlawful. This warning is part of a broader effort by Australian regulatory bodies to rigorously oversee cryptocurrency firms operating within the nation, with the aim of safeguarding investors from potential risks linked to trading cryptocurrencies with high leverage. ASIC affirmed its commitment to monitoring the activities of cryptocurrency companies and taking necessary action against those violating Australian laws and regulations.