Thailand Sets December 5 Block on Bitget Over Unlicensed Trading Allegations
Thailand's Securities and Exchange Commission has filed a criminal complaint against BG Limited, operator of Bitget, and asked authorities to block access to the platform from December 5. Separately, seller GMO Internet has pushed a planned share transfer tied to a local exchange deal to November 30 while it works through Thai regulatory procedures.
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What the Regulator Announced
Thailand's Securities and Exchange Commission filed a criminal complaint against BG Limited, the operator of cryptocurrency exchange Bitget, and set a December 5 date for blocking access to the platform, according to a November 5 SEC announcement reported by Crypto.news. The regulator says BG Limited provided exchange services without the authorization required under the country's digital asset laws. The complaint has been referred to the Economic Crime Suppression Division, and the Ministry of Digital Economy and Society has been asked to restrict access to Bitget's website, associated domains and mobile app.
The Allegations and Named Parties
The SEC says its investigation found trading activity through Bitget between 2022 and 2025, including fee collection and services directed at Thai customers. Investigators cited a Thai-language website that displayed prices in baht and promotional accounts on X, Telegram and TikTok. The complaint treats these activities as operating a digital asset exchange under Section 3 of the 2018 Emergency Decree on Digital Asset Businesses, and cites Section 26 as the violated provision, an offense under Section 66.
The complaint also names Kritsana Kritsananuwat, whom the regulator accuses of promoting Bitget's services through a Facebook page and a YouTube channel. The restriction itself rests on the 2025 Royal Decree on Measures for Preventing and Suppressing Technology-Related Crimes, which gives the ministry power to restrict access to unlicensed platforms. Thailand used the same framework in June 2025 to block five unlicensed exchanges, including Bybit, OKX and CoinEx.
Customer Exposure and the Pending Deal
Customers holding assets on Bitget have been advised to review their accounts before the deadline. Crypto.news reports that the announcement does not specify an automatic liquidation process or require customers to sell. The SEC has also encouraged users to verify provider licensing through its official website or its SEC Check First application.
The Defiant reports a separate track: a planned share transfer tied to a local Thai exchange deal, with seller GMO Internet, has been pushed from its original timing to November 30 while it works through Thai regulatory procedures. The two reports frame the Thai situation differently. The Defiant presents the December 5 block as a deadline for a transaction that is still awaiting approval, while Crypto.news presents it as the endpoint of a criminal enforcement action. The sources do not give a shared account of how the share transfer and the enforcement process relate, and neither source describes that relationship directly.
Status of the Allegations
The filing does not establish criminal liability for BG Limited or the named individual. Thailand's Economic Crime Suppression Division will investigate before prosecutors decide whether to charge, and any case would then proceed through the courts. Crypto.news says it contacted Bitget for comment and had not received a response by publication. The SEC has said it will monitor the investigation and cooperate with other authorities throughout the process.
Why It Matters
For Traders
Thai users holding Bitget balances should watch the December 5 deadline and their own withdrawal options, since the announcement sets no automatic liquidation process.
For Investors
The case adds to Thailand's pattern of enforcing licensing against offshore exchanges, a precedent that could shape how other Southeast Asian regulators approach unlicensed platforms.
For Builders
Exchange operators serving Thai users will need to confirm local licensing and marketing practices, since the complaint cites Thai-language sites and influencer promotion as evidence of service.
This article is for information only and is not financial advice. Read the full disclaimer.
