Thailand’s Securities and Exchange Commission has filed a criminal complaint against cryptocurrency exchange Bitget’s operator, BG Limited, and announced plans to block access to the platform from December 5 over alleged unlicensed trading activities.
Summary
- Thailand’s SEC has filed a criminal complaint against BG Limited, the operator of Bitget, alleging unlicensed cryptocurrency trading.
- Authorities plan to block access to Bitget’s website, related domains and mobile application beginning December 5, 2026.
- The complaint covers activities between 2022 and 2025, including trading services, fees and Thai-language promotions.
- The regulator separately named Kritsana Kritsananuwat over alleged promotional assistance through Facebook and YouTube.
- Bitget’s previously announced plan to acquire a licensed Thai exchange remains a separate matter requiring regulatory approval.
The Thai SEC confirmed the action in a November 5 announcement, stating that BG Limited had provided cryptocurrency exchange services without the authorization required under the country’s digital asset laws. The regulator has referred the complaint to the Economic Crime Suppression Division for investigation and notified the Ministry of Digital Economy and Society to restrict access to Bitget’s website and mobile application.
Meanwhile, the restriction will cover Bitget’s main website, associated domains and app. Authorities have advised customers holding assets on the platform to consider taking appropriate action before the December 5 deadline.
Thailand SEC accuses Bitget of unlicensed crypto trading
The regulator said its investigation identified cryptocurrency trading activities carried out through Bitget between 2022 and 2025. During that period, the platform allegedly facilitated digital asset transactions, collected trading fees and offered services directed at Thai customers.
Investigators pointed to a Thai-language website that displayed cryptocurrency values in Thai baht. They identified promotional activities through several social media channels, including an X account called “Bitget Thailand,” the Telegram group “BGB Thai Holder” and a TikTok account named “bitgetthailand.”
The SEC said the activities met the definition of operating a digital asset exchange under Section 3 of Thailand’s Emergency Decree on Digital Asset Businesses, introduced in 2018. It accused BG Limited of violating Section 26 by providing those services without a license, an offense covered by Section 66 of the law.
The complaint separately names Kritsana Kritsananuwat, whom the regulator accused of helping promote Bitget’s services through the Facebook page “Srisiam” and the YouTube channel “SRISIAM.” Authorities allege that his promotional activities supported the exchange’s unlicensed operations.
Bitget users face December 5 access restrictions
Alongside the criminal complaint, the SEC has asked the Ministry of Digital Economy and Society to block access to the exchange from December 5.
The restriction falls under Thailand’s 2025 Royal Decree on Measures for Preventing and Suppressing Technology-Related Crimes. The legislation gives the ministry authority to restrict access to unlicensed digital asset trading platforms.
The regulator said the measures are intended to protect investors and prevent unauthorized exchanges from being used for money laundering or other financial crimes.
Customers who currently hold cryptocurrency on Bitget have been advised to review their accounts and take appropriate steps regarding their assets before access becomes restricted. The announcement does not specify an automatic liquidation process or require customers to sell their holdings.
Thailand previously blocked five unlicensed cryptocurrency exchanges, including Bybit, OKX and CoinEx, under the same regulatory framework in June 2025.
The SEC encourages investors to verify whether a cryptocurrency provider holds the necessary authorization through its official website or SEC Check First application.
Criminal complaint moves to economic crime investigators
The filing does not establish criminal liability against BG Limited or the individual named in the complaint.
Thailand’s Economic Crime Suppression Division will investigate the allegations before prosecutors decide whether to bring criminal charges. Any prosecution would subsequently proceed through the country’s courts, which would determine whether the defendants violated the law.
The regulator said it would monitor the investigation and cooperate with the relevant authorities throughout the enforcement process.
CN contacted Bitget for comment on the allegations and the planned restrictions but had not received a response by publication time.
Bitget previously announced plans to acquire licensed Thai exchange
The enforcement action follows Bitget’s October announcement that it intended to acquire an existing licensed cryptocurrency business in Thailand.
As crypto.news previously reported, the company planned to acquire GMO-Z.com Cryptonomics (Thailand), the operator of the locally licensed Z.com EX platform, through BTGT Management.
The proposed transaction involved a 99.94% combined stake held by GMO Internet and its Thai subsidiary. Although the seller originally scheduled the share transfer for October 31, the transaction required regulatory approval and other conditions.
Bitget CEO Gracy Chen previously said the acquisition would provide an opportunity to establish local operations. The company had not announced a launch date for services through the proposed Thai business.
Its October user agreement already listed Thailand among jurisdictions restricted from accessing the international platform.
Separately, Bitget had restricted customers in Russia and Belarus following changes to its prohibited-jurisdiction list in October. The exchange said affected customers would receive individual instructions covering account closures, outstanding trades and withdrawals.
