Thailand's SEC Files Criminal Complaint Against Bitget for Unlicensed Operations

Thailand's Securities and Exchange Commission (SEC) has initiated a criminal complaint against BG Limited, the operator of the cryptocurrency exchange Bitget, citing allegations of conducting unlicensed digital asset business. The regulator plans to block access to Bitget's website, associated domains, and mobile application starting December 5, 2026.

The SEC alleges that Bitget provided cryptocurrency trading services to Thai customers between 2022 and 2025 without obtaining the necessary local authorization. A separate complaint has been filed against an individual accused of promoting Bitget's services through social media platforms like Facebook and YouTube. Thai users are advised to review their holdings and take necessary actions before the access restrictions take effect.

Regulatory Allegations and Actions

According to the Thai SEC, its investigation revealed activities that allegedly violated the country's digital asset business licensing requirements. The regulator claims Bitget operated as a commercial service facilitating cryptocurrency purchases and sales, collecting transaction fees from users. The exchange is also accused of actively targeting Thai customers through localized marketing, including a Thai-language website, services displaying local currency, and promotional campaigns on social media platforms such as X, Telegram, and TikTok.

Individual Promoter Named

In addition to the complaint against BG Limited, the SEC has identified an individual, Kritsana Kritsananuwat, who allegedly assisted Bitget in promoting its services to local customers. The regulator claims Kritsananuwat's activities through a Facebook page and a YouTube channel increased awareness of Bitget and encouraged user engagement. This alleged promotional assistance is considered a potential violation of the licensing framework, as individuals knowingly facilitating an unauthorized digital asset business may face legal consequences.

User Advisory and Broader Implications

The planned restrictions, set to commence on December 5, 2026, will encompass Bitget's primary website, related domains, and its mobile application. The Ministry of Digital Economy and Society has the authority to block access to unlicensed digital asset platforms under measures designed to combat financial crime and protect investors. The SEC urges users not to delay in addressing assets held on the exchange, emphasizing that customers using unauthorized platforms may not receive the same legal protections as those using locally licensed operators and could face increased risks of scams and money laundering.