ASIC issues warning on Bitget Just discovered that the Australian Securities and Investments Commission ASIC has issued a warning to @ bitgetglobal today because BG offers Australians 125 times the contract, while in most cases Australians can only offer 2 times the contract 😂😂😂 I used to wonder why Binance OK has strict restrictions on Australian KYC user functions and how BG can be opened. I also thought the background was really impressive. Sure enough, I was caught. What would happen if I continued to violate it? ASIC may require Bitget to: ⛔ Immediately cease promoting or offering encrypted futures products within Australia; ⛔ Request the platform to remove relevant products and close corresponding trading pairs; ⛔ If ASIC continues to operate, it may apply to the court for an injunctions to enforce it. ASIC has the right to initiate civil litigation and demand: ⛔ Impose fines (civil penalties) ⛔ Compensate consumers for losses, especially if users suffer losses due to high leverage or contract settlement A few years ago, when Australia followed the United States in targeting Binance, it successfully obtained an A13.1M bond order in its lawsuit against Binance Australia; There are precedents for imposing an A8M penalty on Kraken's Bit Trade before. It is not ruled out that ASIC will implement strict control over promotional channels in the future, such as requiring Australian IP blocking, deleting App Store, and removing promotional links from search engines. Let's see how Bitget handles it. Nowadays, compliance with CEX has become increasingly strict in various countries, and the industry is evolving. Let's have fun while there is still a dividend period. Original link of ASIC: https://www.asic.gov.au/about-asic/news-centre/news-items/investor-alert-asic-warns-investors-of-bitget-s-unlicensed-cryptocurrency-futures-products/?utm_source=miragenews&utm_medium=miragenews&utm_campaign=news