ASIC Cracks Down: Bitget’s Unlicensed Crypto Futures Face Heat in Australia
Australia's financial watchdog just drew a line in the sand—and Bitget's standing on the wrong side.
The Australian Securities and Investments Commission (ASIC) fired a warning shot at the crypto platform this week, calling out its unlicensed derivatives trading. No sugarcoating here: regulators are done playing nice with offshore exchanges skirting local rules.
Futures in the crosshairs
While Bitget markets itself as a global crypto hub, ASIC's move exposes the regulatory gray area many platforms exploit. The agency specifically flagged leveraged token products—financial instruments that amplify risk (and potential returns) without proper oversight.
Another day, another crypto clash with regulators. But this time, it's happening in a market where 1 in 5 adults now own digital assets. When will exchanges learn? Compliance isn't sexy—until it keeps you in business.
