The Australian Securities and Investments Commission (ASIC) has issued a warning to investors regarding unlicensed cryptocurrency futures products offered by BTG Technology Holdings Limited and related entities operating under the Bitget brand.
ASIC stated that Bitget does not hold an Australian Financial Services (AFS) licence and is therefore not authorized to promote or provide its financial products to Australian residents. Investors who choose to engage with Bitget’s offerings are not covered by protections under Australian financial services law, including dispute resolution and client money safeguards.
Bitget offers 125:1 leverage. ASIC restricts it to 2:1
Bitget’s high-risk products, advertised as “crypto futures trading,” are available to Australian users through the company’s website and mobile apps on platforms such as Apple’s App Store and Google Play. These derivative products allow investors to speculate on cryptocurrency price movements with high leverage, reportedly up to 125:1. In contrast, ASIC restricts leverage on crypto derivatives for retail investors to a maximum of 2:1 to reduce the risk of significant financial loss.
ASIC noted that such excessive leverage significantly increases the potential for both gains and losses. A $1 investment at 125:1 leverage could lead to outcomes as large as $125 in either direction, amplifying exposure beyond what Australian rules permit.
The regulator urged retail investors to apply a checklist before making investment decisions. This includes confirming whether the provider is licensed by ASIC, understanding how the investment works, identifying signs of potential scams, and knowing how to file complaints if needed. ASIC reinforced that investing in unlicensed and unregulated products exposes consumers to higher risks and fewer avenues for recourse in case of disputes.
Bitget is registered with AUSTRAC, which permits it to provide exchange services in Australia, but it is not authorized to operate a financial services business such as issuing or trading in futures products.
International regulators have also taken similar actions against Bitget and its affiliated companies over the past two years. Since April 2022, financial authorities in Spain, Austria, Germany, Canada, France, Cyprus, Malaysia, and Japan have issued public warnings, enforcement notices, or blacklisted Bitget-related entities for operating without proper authorization.
In Spain, the Comisión Nacional del Mercado de Valores flagged Bitget in April 2022 for lacking authority under its securities laws. Austria’s FMA followed in January 2024, warning investors against transacting with Bitget. BaFin, Germany’s financial regulator, published a similar alert in February 2024.
In North America, the Alberta Securities Commission in Canada noted in April 2024 that Bitget was not registered to trade in or advise on securities or derivatives. France’s AMF blacklisted Bitget’s platform in April 2024, warning the public to be cautious of its offerings. Regulators in Cyprus, Malaysia, and Japan have since echoed these concerns, with Japan’s FSA most recently warning in June 2025 that Bitget was soliciting unlicensed derivative transactions.
ASIC acknowledged that Bitget has since added disclaimers on its website and app indicating it is not licensed by ASIC and that its services are not targeted at Australian users. However, the regulator maintained its stance that access to such high-risk, leveraged investment products by Australians remains a concern.
Investors are advised to consult ASIC’s professional register to verify licensing status and to visit the Moneysmart “Check before you invest” page for further guidance.
