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Thailand SEC files criminal complaint against Bitget over unlicensed trading
The Thai regulator accuses Bitget's operator and a local promoter of running an unlicensed digital asset business, and has asked for access to the platform to be blocked from 5 December.
Why it matters: The case shows Thai authorities pursuing unlicensed offshore exchanges and preparing to cut off access, which could leave Thai users unable to reach their accounts after 5 December.
Key points
- The SEC filed the complaint with the Economic Crime Suppression Division against BG Limited, which operates Bitget, and promoter Kritsana Kritsananuwat.
- The regulator says Bitget served Thai customers without a licence between 2022 and 2025, citing a Thai-language site and baht pricing.
- Access restrictions requested from the Ministry of Digital Economy and Society are due to take effect on 5 December.
Thailand's SEC has filed a criminal complaint against Bitget, alleging the exchange ran an unlicensed digital asset business in the country. The complaint, lodged with the Economic Crime Suppression Division, names BG Limited, which operates Bitget, and Kritsana Kritsananuwat, accused of promoting the platform to Thai investors.
The regulator says the exchange served Thai customers between 2022 and 2025 without the authorisation required under Thailand's Emergency Decree on Digital Asset Businesses. It points to a Thai-language website, prices shown in baht and social media marketing as evidence the platform was aimed at the domestic market. Kritsananuwat is accused of drawing in Thai users through content on Facebook and YouTube.
Access block from 5 December
Separately, the SEC has sent details of Bitget's website, domains and mobile app to the Ministry of Digital Economy and Society, asking for access to be restricted from 5 December. It has urged investors holding assets on Bitget to review their positions before then, warning that users of unlicensed exchanges may lack the legal protections given to customers of regulated operators.
Investigators will examine the allegations before prosecutors decide whether to pursue charges, with any court adjudication expected between 2026 and 2027. The action comes weeks after Bitget said it planned to acquire a licensed Thai crypto exchange.
What to watch: Prosecutors will decide whether to pursue charges after investigators examine the allegations, with court adjudication expected between 2026 and 2027.
Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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