Australian regulators are once again turning their gaze toward the burgeoning world of cryptocurrency, this time taking aim at Bitget. On July 28, 2025, the Australian Securities and Investments Commission (ASIC) issued a stern warning to Bitget, accusing the platform of offering unlicensed crypto futures products to Australian investors. This development underscores ASIC’s ongoing efforts to tighten the reins on digital asset platforms and ensure compliance with local regulations.
ASIC’s Stance on Unlicensed Products
The ASIC’s announcement is the latest salvo in a broader campaign to regulate cryptocurrency exchanges that operate within Australia’s borders. According to sources within ASIC, the regulatory body is particularly concerned about platforms that, like Bitget, allegedly sidestep the necessary licensing processes while continuing to engage local traders. “It’s about protecting investor interests and maintaining market integrity,” said an inside source familiar with ASIC’s deliberations. This regulatory focus mirrors international trends, such as Hungary’s New Crypto Law Imposing Prison Time for Unauthorized Trading Activities.
Bitget, a platform known for its derivatives trading, has found itself in the crosshairs primarily because of its aggressive marketing tactics aimed at Australian users. The platform’s offerings, which include leveraged futures contracts, purportedly lack the proper authorizations under Australian law. ASIC’s warning comes as a potent reminder that even in the fast-paced world of digital currencies, compliance is non-negotiable.
The Ripple Effect on the Crypto Market
Here’s the catch: ASIC’s warning to Bitget is not an isolated incident but part of a larger regulatory wave that has seen several platforms either shutter their operations or adapt to meet compliance standards. This regulatory pressure is reshaping the crypto landscape in Australia, causing many exchanges to rethink their strategies.
“Regulatory clarity is a double-edged sword,” notes crypto analyst Emma Liu. “On one hand, it provides a framework for legitimate operations. On the other, it pushes some players out of the market if they can’t or won’t comply.” Liu’s comments reflect a broader sentiment within the industry, where the quest for regulatory approval often comes with significant operational challenges. For a global perspective, consider how Unauthorized Crypto Trading Now Carries 2 Years of Prison in Hungary, illustrating the serious consequences of non-compliance.
Despite these hurdles, the Australian market remains a lucrative avenue for crypto platforms, thanks to a tech-savvy population and increasing institutional interest. However, the recent actions by ASIC could potentially prompt more platforms to exit the market or seek partnerships with licensed entities to continue serving local traders.
Historical Context and Future Implications
This isn’t the first time ASIC has flexed its regulatory muscles. Over the past few years, the commission has been vocal about the need for tighter controls in the crypto space. In 2023, for instance, ASIC introduced stringent guidelines that required exchanges to register with the commission and adhere to specific operational standards. The regulatory body’s recent move against Bitget is consistent with its ongoing strategy to safeguard the market from unlicensed operators.
But what does the future hold? While Bitget has yet to respond publicly to ASIC’s warning, the platform’s next steps could set a precedent for other exchanges operating in the region. Will they opt for compliance, or will they choose to exit the Australian market altogether? As the crypto world watches closely, the answers to these questions could shape the regulatory environment in the months to come.
It’s a pivotal moment for crypto in Australia, with regulatory bodies like ASIC playing an increasingly active role in dictating the rules of the game. For investors and platforms alike, understanding these dynamics is crucial. The unfolding narrative around Bitget is more than a cautionary tale—it’s a testament to the evolving relationship between regulators and the digital asset market.
In the meantime, as ASIC continues to monitor and enforce its regulations, other platforms may find themselves under similar scrutiny. The message is clear: the days of operating in a regulatory gray area in Australia are numbered. As the crypto market navigates these choppy waters, one thing is certain—compliance isn’t just an option; it’s an imperative.
Source
This article is based on: ASIC Issues Warning Over Bitget’s ‘Unlicensed’ Crypto Futures Products in Australia
Further Reading
Deepen your understanding with these related articles:
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- Kraken launches US crypto derivatives platform in wake of NinjaTrader acquisition
- House Gears Up for Crypto Market Structure Vote on Wednesday, Stablecoins Thursday
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
