Thailand to block Bitget in December over unlicensed crypto trading
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Written by
Simonas Brazionis - Updated 2026-11-05 13:23:53
Thailand's Securities and Exchange Commission (SEC) has filed a criminal complaint against BG Limited, the operator of the cryptocurrency exchange Bitget, alleging it operated without a license in the country. The SEC announced on Thursday that it had informed the Ministry of Digital Economy and Society to block access to Bitget in December, effective December 5, applying this restriction to its website, associated domains, and mobile application.
The regulator has advised users to manage their assets on the platform before the deadline. This action follows Bitget's October 20 announcement regarding its intentions to acquire a licensed Thai crypto exchange. When choosing among the best crypto exchanges, factors like licensing, security, and available assets are often considered.
Details of the SEC's Complaint
The SEC's complaint specifies that Bitget provided crypto trading services from 2022 to 2025. It also imposed trading fees and promoted its services in Thai across its websites and social media channels. The regulator stated that these activities violated Thailand's digital asset business licensing requirements.
The complaint also names Kritsana Kritsananuwat, accusing him of assisting in the promotion of Bitget through Facebook and YouTube. Kritsananuwat had previously faced a criminal complaint in March 2025 for allegedly promoting the unlicensed exchange activities of OKX.
Regulatory Framework and Bitget's Acquisition Plans
Thailand implemented licensing requirements for digital asset businesses in 2018. Stricter regulations were introduced in April 2025 to include foreign platforms targeting Thai users. Amendments to a separate cybercrime law have also streamlined the process for the ministry to block access to unlicensed platforms. The SEC has submitted the complaint to Thailand's Economic Crime Suppression Division for further investigation. Prosecutors will determine whether to file charges, and the courts will establish criminal liability.
Bitget had previously disclosed plans on October 20 to acquire GMO-Z.com Cryptonomics, a locally licensed crypto exchange and brokerage. This was to be done through BTGT Management (Thailand), a company in which Bitget affirmed an interest. At the time of this disclosure, the proposed acquisition was contingent on regulatory approval and other conditions.
Bitget indicated its intention to introduce its trading platform to Thai users following the completion of the transaction and approval for the change of control. The CEO of Bitget described Thailand as a significant component of Southeast Asia's digital asset landscape, noting that the acquisition presented an opportunity to establish local operations.
