Bitget, an international crypto exchange platform with 120 million users, is actively promoting its high-risk products in Australia, despite warnings from the Australian Securities and Investments Commission (ASIC) regarding its unlicensed status. ASIC had previously alerted investors in July 2023 about Bitget's offerings, which allow leverage ratios of up to 125 times, far exceeding the 2:1 limit set for licensed providers. This regulatory gap has raised alarms among financial experts, who argue that such platforms could lead inexperienced investors to substantial losses. As new regulations are set to take effect, requiring digital asset platforms to comply with licensing by June 2026, concerns persist about Bitget's targeting of university students and the potential risks involved. Experts like Nathan Ide liken Bitget's operations to gambling, highlighting the dangers of high leverage trading. While Bitget is registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), it lacks an Australian Financial Services (AFS) license, meaning Australian investors are not protected under local laws. ASIC has stated that consumers investing in unlicensed products do not have access to essential protections, which could leave them vulnerable in the event of disputes. The recent passage of the Corporations Amendment (Digital Assets Framework) Bill 2025 aims to enhance consumer protections and modernize the regulatory framework for crypto exchanges in Australia.