Global crypto exchange Bitget, which claims more than 120 million users worldwide, has continued promoting its high‑risk trading products across Australia even after the nation’s financial regulator issued a public warning about the platform last year.
The Australian Securities and Investments Commission (ASIC) raised the alarm in July, cautioning investors that Bitget was offering unlicensed crypto‑asset futures products with leverage of up to 125:1. Such extreme leverage can amplify losses at a speed and scale most retail investors are unprepared for.
By comparison, ASIC caps leverage for regulated crypto‑derivative products at 2:1, a limit designed to prevent catastrophic losses among everyday traders. Bitget’s offerings, experts say, highlight a regulatory blind spot that allows offshore crypto platforms to market high‑risk products to Australians without meeting local compliance standards.
Financial analysts warn that the situation underscores the urgent need for clearer rules governing international crypto exchanges operating in Australia. Despite ASIC’s intervention, Bitget has continued to advertise aggressively, raising concerns that inexperienced investors may be lured into dangerous trading environments without adequate protections.
As Australia moves toward tightening its digital‑asset regulations, the Bitget case is likely to fuel debate over how to police global crypto platforms that operate beyond the reach of domestic licensing frameworks.
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