Thailand's securities regulator has filed a criminal complaint against Bitget's operator and asked for access to the exchange to be blocked from Dec. 5. Bitget is separately pursuing a licensed route into the country through a planned acquisition that still needs approval.
Thailand's Securities and Exchange Commission (SEC) filed a criminal complaint against BG Limited, the operator of Bitget, for allegedly operating without a license. The regulator also notified the Ministry of Digital Economy and Society to block access from Dec. 5.
The restriction will cover Bitget's website, associated domains and mobile app. However, the SEC advised users to take action regarding assets held on the platform before the deadline.
What the SEC alleges
According to the SEC, Bitget offered crypto trading services between 2022 and 2025, charged trading fees and promoted itself through Thai-language websites and social media channels. The regulator said this violated Thailand's digital asset business licensing requirements.
As evidence of local activity, the SEC cited a Thai-language website, baht-denominated display options and Thai-language promotions. Its complaint also names Kritsana Kritsananuwat, whom it accused of helping promote Bitget through a Facebook page and a YouTube channel.
The complaint went to Thailand's Economic Crime Suppression Division for investigation. Prosecutors will decide whether to bring charges, and courts will determine criminal liability.
A licensed route still awaits approval
Meanwhile, Bitget is pursuing a planned purchase of GMO-Z.com Cryptonomics (Thailand), a licensed exchange and brokerage. The deal requires regulatory approval.
In an Oct. 30 update, GMO Internet moved the scheduled share transfer from Oct. 31 to Nov. 30, citing preparations involving applications and approvals in Thailand. The SEC's Nov. 5 notice does not announce a decision on the acquisition.
Bitget's stated plan is to introduce a locally operated trading platform only after the purchase closes and change-of-control approval arrives.
Sources: Cointelegraph, The Defiant
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