Thailand Plans Bitget Block After SEC Files Criminal Complaint

Thailand's securities regulator has filed a criminal complaint against the operator of crypto exchange Bitget and asked the government to block the platform from 5 December. The move raises questions about Bitget's plan to enter the Thai market through a licensed local exchange, and it is a reminder for traders that using unlicensed platforms can carry real access and legal risks.

Key takeaways

• The SEC says Bitget's operator, BG Limited, ran crypto trading services for Thai users without a licence from 2022 to 2025.
• Access to Bitget's website, related domains and app is scheduled to be blocked from 5 December 2026.
• A criminal complaint is not a finding of guilt; prosecutors decide whether to bring charges and courts decide liability.
• Bitget's planned purchase of a licensed Thai exchange still needs regulatory approval.

What Thailand's SEC alleges

According to reports, the regulator said Bitget offered trading services to people in Thailand, charged trading fees and promoted itself in Thai through websites and social media. The SEC said this broke the country's digital asset licensing rules. It also pointed to the Thai-language website and baht-equivalent price displays as signs the platform was courting local customers.

The complaint was filed with Thailand's Economic Crime Suppression Division for investigation. It also names an individual the SEC accuses of helping promote Bitget through Facebook and YouTube. Reports note the filing does not establish criminal liability for either party.

The SEC has asked the Ministry of Digital Economy and Society to restrict access, and it has urged users to review their holdings and act before the deadline. Bitget told Cointelegraph it was reviewing the announcement and evaluating its options for engaging with the regulator. CoinDesk notes that Bitget's own terms of use, last updated in October, already list Thailand among prohibited countries.

The acquisition complication

On 20 October, Bitget announced plans to acquire GMO-Z.com Cryptonomics, a locally licensed exchange and brokerage, through BTGT Management (Thailand), a company in which Bitget said it held an interest. The deal would give Bitget a regulated route into the Thai market, but it remains subject to regulatory approval.

Seller GMO Internet has pushed the planned share transfer to 30 November, which is five days before the scheduled block. The SEC has not said whether its complaint could affect the acquisition, so it is too early to say the deal is in trouble. One way to read it is that the complaint concerns past activity, while the acquisition is a separate path towards operating under Thai licensing rules.

Thailand has acted similarly before. In 2025 its SEC filed a complaint and sought access restrictions against several unlicensed exchanges, including OKX and Bybit.

Market backdrop

The story is a regional regulatory development, and nothing in the reports ties it to today's price moves. Still, crypto was broadly lower at 14:44 UTC on 6 November. Bitcoin traded at 75,778.00, down 3.97% on the day, within a range of 75,208.42 to 78,980.01. Ethereum was at 2,237.62, down 5.40%, and XRP fell 7.86% to 1.1868. BNB was down 1.14% at 697.35.

What to watch next

• Whether Thai regulators approve the GMO-Z.com Cryptonomics deal ahead of the 30 November share transfer date.
• Progress of the Economic Crime Suppression Division's investigation and any decision by prosecutors.
• Any response from Bitget as it engages with the regulator.
• Whether Thai users move assets off the platform before 5 December.

Crypto markets are highly volatile and this article is for education only, not investment advice.