Thailand’s regulator has moved to cut off access to Bitget’s platform, targeting the exchange’s operator over alleged unlicensed crypto trading. Key takeaways - On Nov. 5 the Securities and Exchange Commission (SEC) of Thailand filed a criminal complaint against BG Limited, the operator of Bitget, and asked authorities to block access to the exchange from Dec. 5. - The SEC says BG Limited provided cryptocurrency exchange services to Thai users without the authorization required under Thailand’s digital asset laws. The complaint has been referred to the Economic Crime Suppression Division for investigation. - The Ministry of Digital Economy and Society (MoDES) has been notified and is expected to restrict access to Bitget’s main website, related domains and its mobile app under the 2025 Royal Decree on Measures for Preventing and Suppressing Technology-Related Crimes. What the SEC alleges - The regulator says its probe found Bitget facilitated crypto trading, collected fees and targeted Thai customers between 2022 and 2025. Evidence cited includes a Thai-language site displaying prices in Thai baht and promotional activity on social channels (an X account “Bitget Thailand,” a Telegram group “BGB Thai Holder,” and a TikTok account “bitgetthailand”). - The SEC says these activities meet the legal definition of operating a digital asset exchange under Section 3 of the 2018 Emergency Decree on Digital Asset Businesses, and that BG Limited violated Section 26 by operating without a license—an offense covered by Section 66. - The complaint also names an individual, Kritsana Kritsananuwat, accusing him of promoting Bitget via the Facebook page “Srisiam” and YouTube channel “SRISIAM,” allegedly supporting the platform’s unlicensed operations. Investor protections and next steps - The SEC has urged customers with assets on Bitget to review their accounts and take appropriate action before Dec. 5; the announcement does not mandate automatic liquidation or require customers to sell holdings. - The filing does not establish criminal guilt. Thailand’s Economic Crime Suppression Division will investigate and prosecutors will decide whether to press charges; any case would then proceed through the courts. The SEC says it will monitor the investigation and cooperate with authorities. - The regulator reiterated that investors should verify a provider’s authorization status via the SEC website or the “SEC Check First” app. Context and company response - Thailand has used the same framework before — in June 2025 the country blocked five unlicensed exchanges, including Bybit, OKX and CoinEx. - Bitget did not respond to media requests for comment by publication time. The enforcement action follows Bitget’s October announcement that it planned to acquire GMO-Z.com Cryptonomics (Thailand), operator of the licensed Z.com EX, via BTGT Management. That proposed deal — a near-total (99.94%) stake transfer from GMO Internet and its Thai unit — required regulatory approvals and had not closed; Bitget had indicated the acquisition would be a route to establish local operations but had not set a launch date. - Separately in October, Bitget updated its user agreement to list Thailand (and earlier, Russia and Belarus) among restricted jurisdictions and provided affected customers with individualized instructions on account closures, outstanding trades and withdrawals. What this means - The SEC frames the action as investor protection and an effort to prevent unlicensed platforms from facilitating money laundering or other financial crimes. For now, users in Thailand should track official updates, confirm any account instructions from Bitget directly, and monitor the outcome of the ongoing investigation. Read more AI-generated news on: https://app.chaingpt.org/news