ASIC warns of “unlicensed” encryption offers for bitget star-news.press/wp

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Sujha Sundarajan

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Sujha Sundarajan

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July 28, 2025

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Australian organizer has Warn Against Crypto Exchange Bitget to provide “unlicensed Crypto Future products”. The Australian Securities and Investment Committee (ASIC) said on Monday that Bitget provides Crypto Futures products with 125: 1 without obtaining an Australian financial services license (AFS).

The product has been announced as “Crypto Futures”, and attracted Australians to download it via its website and the mobile phone application.

“Bitget Futures products are highly derived investments through which investors can predict future movements in encrypted currency prices,” ASIC pointed out.

ASIC sets the maximum of 2: 1 leverage for encryption tools

The organizer emphasized that it limits the percentage of the leverage of some products derived from the cryptocurrency to 2: 1. However, Bitget described that its unlicensed products can provide 125 magnified gains or losses to investors.

“These products can be used greatly,” Acek said, adding that a small capital of investors must occupy a large position in the basic assets.

The agency warned: “Trading in highly derived products can benefit from great losses for investors,” the agency warned.

Bitget is allowed to provide encryption services in Australia; However, it is not licensed to carry any financial services companies.

Last month, the stock exchange obtained an organizational approval to work in Georgia, to provide digital asset exchange services and goalkeeper services. The second largest encryption exchange by the number of clients early this year has been exceeding 100 million.

Peter has a problem with at least eight organizers

Excination products have received similar warnings from many organizers all over the world. Last year, Pavin Germany warned investors against participating with Bitget because the organizer does not supervise the entity.

Moreover, Canada, France, Cyprus, Malaysia, Spain and Japan have released data regarding unlicensed Bitget encoding offers.

Before warning ASIC, the stock exchange added the evacuation of the consumer warning, noting that it is not licensed or authorized to provide such products in Australia.