Thailand’s Securities and Exchange Commission has filed a criminal complaint against BG Limited, the operator of crypto exchange Bitget, alleging that the company ran a digital asset business in the country without the required license. The regulator has also asked the Ministry of Digital Economy and Society to block access to Bitget starting Dec. 5.
The requested block covers Bitget’s main website, related domains and its mobile application. The SEC said users should make arrangements for any assets held on the platform before the deadline.
Regulator cites activity from 2022 to 2025
According to the SEC, Bitget provided crypto trading services to Thai users between 2022 and 2025, collected trading fees and promoted those services in Thai through its websites and social media channels. The agency said those activities fall under Thailand’s digital asset business rules and therefore required a license.
The complaint also names Kritsana Kritsananuwat, whom the regulator accuses of helping promote Bitget through Facebook and YouTube. The SEC has not presented the case as a final determination, but as alleged conduct it believes breached the country’s licensing framework.
Move comes after Bitget’s Thailand expansion plan
The enforcement action follows Bitget’s Oct. 20 announcement that it planned to acquire GMO-Z.com Cryptonomics, a licensed Thai crypto exchange. Bitget said at the time that the transaction would be carried out through BTGT Management (Thailand).
Under that plan, Bitget intended to introduce its trading platform to Thai users after receiving regulatory approval for the change of control. The SEC’s complaint now places the company’s earlier presence in the country under scrutiny, even as Bitget had signaled plans to enter the market through a licensed route.
Thailand has tightened oversight of offshore platforms
Thailand first introduced licensing requirements for digital asset businesses in 2018. In April 2025, the country expanded the rules to more clearly cover foreign platforms that target Thai users.
Separately, amendments to cybercrime law made it easier for the Ministry of Digital Economy and Society to restrict access to unlicensed platforms. The SEC’s request to block Bitget appears to rely on that strengthened enforcement mechanism.
Next step is the Dec. 5 access block
The immediate confirmed next step is the planned access restriction from Dec. 5, if carried out by the ministry as requested by the SEC. The order would apply to Bitget’s website, associated domains and app in Thailand.
For users, the regulator’s guidance was practical rather than speculative: those with assets on Bitget were told to take action before the block date. Beyond that, the criminal complaint against BG Limited and the allegations involving Kritsana Kritsananuwat set up the legal process that will determine how the case proceeds.
Source: cointelegraph.com