Thailand SEC Bitget Block: Criminal Complaint Over Unlicensed Trading

Thailand's securities regulator has escalated its dispute with one of the world's larger offshore exchanges, filing a criminal complaint against Bitget's operating company and asking the government to cut off access to the platform. The Thailand SEC Bitget block is scheduled to begin on Dec. 5, and the regulator is telling users to deal with their assets before that date.

What happened

The Securities and Exchange Commission of Thailand lodged a criminal complaint against BG Limited, the entity that runs Bitget, accusing it of offering crypto trading services without a license. Alongside that filing, the regulator asked the Ministry of Digital Economy and Society to block access to Bitget's website, other related domains and its mobile app starting Dec. 5.

According to the SEC, Bitget provided trading services in Thailand between 2022 and 2025, collected trading fees and promoted its offerings in Thai through websites and social media. The regulator says that activity breached the country's digital asset business licensing rules.

The complaint also names an individual, Kritsana Kritsananuwat, who is accused of helping promote Bitget on Facebook and YouTube. This is not his first encounter with the regulator: the SEC filed a similar criminal complaint against him in March 2025 over the alleged promotion of OKX's unlicensed exchange operations.

The case has been submitted to Thailand's Economic Crime Suppression Division. From here, prosecutors will decide whether charges proceed, and any criminal liability would ultimately be determined by the courts.

Why it matters

The timing is awkward for Bitget. On Oct. 20, the exchange announced plans to acquire GMO-Z.com Cryptonomics, a Thai exchange and brokerage that holds local licenses, through BTGT Management (Thailand). That deal was still subject to regulatory approval and other conditions when it was disclosed, so it remains unresolved.

Bitget CEO Gracy Chen has described Thailand as an important part of Southeast Asia's digital asset market and framed the acquisition as a way to establish local operations. A criminal complaint and an access block sit uneasily next to that strategy.

The broader context is a deliberate tightening of Thailand's regime. Licensing for digital asset businesses has existed since 2018, but rules were sharpened in April 2025 to capture foreign platforms that target Thai users. Separately, amendments to a cybercrime law made it simpler for the ministry to block unlicensed platforms.

For traders, the practical implication is access risk. A domain and app block can disrupt withdrawals, deposits and account access, which is why the regulator is urging users to act on assets held on the platform before Dec. 5. For holders elsewhere, the case is a reminder that offshore venues can face jurisdictional action even while pursuing local licensing.

• Regulatory risk: the complaint is criminal, not merely administrative, though charges are not guaranteed.
• Operational risk: blocking covers the website, associated domains and the app.
• Strategic risk: the proposed GMO-Z.com Cryptonomics acquisition still needs approval.

What to watch next

Three things matter most. First, whether the ministry confirms and enforces the Dec. 5 block, and how completely it covers alternative domains. Second, how prosecutors at the Economic Crime Suppression Division handle the referral and whether charges follow. Third, whether the GMO-Z.com Cryptonomics acquisition advances or stalls under the weight of the complaint.

The notes do not state whether Bitget holds a license in Thailand or anywhere else, and Bitget did not immediately respond to a request for comment. Those gaps matter: a licensed local entity would change the regulatory picture considerably, and a public response could clarify the exchange's intentions. Until then, the situation is best treated as unresolved rather than settled.

FAQ

Why did Thailand's SEC file a complaint against Bitget?

The regulator alleges that BG Limited, which operates Bitget, ran crypto trading services in Thailand from 2022 to 2025, charged fees and marketed in Thai without the required digital asset business license. The SEC says this violated local licensing rules.

When will Bitget be blocked in Thailand?

The SEC asked the Ministry of Digital Economy and Society to block Bitget's website, related domains and mobile app starting Dec. 5. Users have been advised to manage assets held on the platform before that deadline.

How does this affect Bitget's planned acquisition in Thailand?

Bitget announced on Oct. 20 that it planned to acquire licensed Thai exchange GMO-Z.com Cryptonomics through BTGT Management (Thailand). The deal was subject to regulatory approval and other conditions, and the sources do not confirm its current status following the complaint.

Related reading

• Block DOJ Settlement: $764M AML Deal, Bitcoin Profit Falls 50%
• Justin Sun sanctions bid targets World Liberty Financial
• New Jersey Coinbase Staking Order Pulled: $5M Penalty Dropped

More in News.

Sources

• Cointelegraph

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency prices are highly volatile — always do your own research before investing.