Thailand's SEC Files Complaint Against Bitget, Plans Access Block from December 5

Thailand’s Securities and Exchange Commission (SEC) has initiated legal action against BG Limited, the operator of the cryptocurrency exchange Bitget, alleging that the platform provided services without the necessary digital asset business license. The complaint, filed on November 5, 2023, outlines that Bitget facilitated cryptocurrency trading for Thai customers from 2022 to 2025, violating local regulations.

The SEC's investigation revealed that Bitget engaged in activities that required licensing under Thailand’s 2018 Emergency Decree governing digital asset businesses. This included operating a Thai-language website, displaying prices in the local currency, and marketing through social media platforms such as X, Telegram, and TikTok.

As a result of these findings, the SEC has requested that the Ministry of Digital Economy and Society block access to Bitget’s website, associated domains, and mobile application starting December 5, 2026. Thai users have been advised to review their holdings and take necessary actions before the access restrictions take effect.

Additionally, the SEC has named Kritsana Kritsananuwat in the complaint, accusing him of promoting Bitget’s services through his Srisiam Facebook page and SRISIAM YouTube channel. These promotional activities are also considered violations of the licensing requirements.

The case has been referred to the Economic Crime Suppression Division for further investigation, which may lead to prosecution and court proceedings. This action is part of Thailand’s broader efforts to enhance oversight of cryptocurrency operations within its jurisdiction, emphasizing the necessity for compliance with local regulations.