The Australian Securities and Investments Commission (ASIC) has issued a warning against investing in unlicensed cryptocurrency futures products offered by BTG Technology Holdings Limited and its related entities (Bitget).

Bitget does not hold an Australian Financial Services (AFS) licence, meaning it is not permitted to promote or encourage Australian investors to invest in its financial products.

Australians investing in unlicensed financial products are unable to access important rights and protections available under Australian financial services laws such as internal dispute resolution processes or client money protections, should something go wrong.

Advertised as ‘Crypto futures trading’, Bitget’s unlicensed products are offered through the Bitget website and the Bitget app, which is available to Australians for download on several app platforms, including the Apple App and Google Play stores.

Bitget’s futures products are high-risk, derivative investments in which investors can speculate on future movements in cryptocurrency prices.

These products can be significantly leveraged, meaning a small amount of capital is required from investors to hold a sizable position in the underlying asset, magnifying both potential gains and losses.

To protect retail investors, ASIC limits leverage ratio limits for certain cryptocurrency derivative products at 2:1.

However, Bitget’s unlicensed products are available at up to 125:1 leverage. For every dollar invested at this leverage rate, there is potential for 125 times magnified gains or losses for investors.

Trading in highly leveraged derivative products can result in substantial losses for investors.

Bitget is an international digital currency exchange registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), meaning it is permitted to offer its exchange services in Australia. Bitget is not licensed to carry on a financial services business in Australia.

Since 2022, several international regulators have taken regulatory action in relation to Bitget entities, including BG Limited.

• On 25 April 2022, Spain’s Comisión Nacional del Mercado de Valores issued a public warning that Bitget is not authorised to provide investment services under the Securities Market Law.
• On 10 January 2024, the Austrian Financial Market Authority warned on its website against closing transactions with Bitget or BG Limited which are not authorised to carry out banking transactions requiring a licence in Austria and therefore not permitted to engage in commercial trading.
• On 6 February 2024, Germany’s BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) warned investors against offers from BG Limited and stated that they do not supervise this entity.
• On 1 April 2024, Canada’s Alberta Securities Commission stated that Bitget Limited is not registered to trade in or advise on securities or derivatives in Alberta. More broadly, it recommended investors not to deal or engage with unregistered firms as there is no assurance of investor protections.
• On 3 April 2024, France’s Autorité des Marchés Financiers warned the public that Bitget’s crypto asset trading platform was blacklisted from operation. It advised retail investors to exercise vigilance with investment offerings to the French public via Bitget’s digital asset trading platform. Further, it disclosed Bitget as not authorised to provide its digital asset services in France and reserved its rights to take legal action to block Bitget’s platform or website.
• On 21 June 2024, Cyprus’s Securities and Exchange Commission listed several unregulated investment firms including Bitget and urged investors to consult its website before conducting business with any investment firm.
• In 2024, Malaysia’s Securities Commission listed Bitget as operating a digital asset exchange without registration. It warned that investing through unauthorised entities and individuals, was not protected under Malaysian securities laws.
• In late 2024, Japan’s Financial Services Agency (FSA) listed Bitget Limited as an unregistered business conducting unregistered cryptocurrency exchange operations in Japan. In June 2025, the FSA listed BTG Technology Holdings Limited as an unlicensed entity soliciting OTC derivative transactions without the statutory registration in Japan.