Cryptocurrency exchange Bitget faces major regulatory crackdown in Thailand!

The Securities and Exchange Commission of Thailand (SEC) announced on November 5 that it had filed a criminal complaint against Bitget operator BG Limited and a person who helped promote the platform, accusing them of operating a digital asset exchange without a license. regulatory authorities and notify relevant departments,Local access to the Bitget website and app will be blocked from December 5, 2026, and users are reminded to properly handle the assets on the platform before the deadline.

Suspected of operating without a license! Bitget faces criminal complaint from Thailand SEC

according toThailand SEC Announcement No. 241/2026, an investigation by the regulatory agency found that Bitget provided cryptocurrency trading services to Thai users from 2022 to 2025 and charged transaction fees, but did not obtain a local digital asset exchange operating license.

The SEC pointed out that Bitget not only has a Thai website and provides Thai baht pricing display functions, but also promotes and attracts local users in Thai through channels such as X platform "Bitget Thailand", Telegram "BGB Thai Holder" and TikTok "bitgetthailand".

The regulatory authority believes that the above behavior is suspected of violating Article 26 of Thailand’s Digital Asset Business Emergency Act 2018 and involves criminal liability under Article 66. In addition, the SEC also filed a criminal complaint against Kritsana Kritsananuwat, who helped promote Bitget through the Facebook "Srisiam" and YouTube "SRISIAM" channels.

The case has been handed over to Thailand's Economic Crime Investigation Department. Subsequent investigations, prosecutors' decisions on whether to prosecute and court trials are still required. At present, there is no conviction.

Block Bitget on December 5th! Thailand SEC reminds users to handle assets in advance

In addition to the criminal complaint, the Thai SEC has also submitted Bitget’s main website, other related domains and mobile application data to the Ministry of Digital Economy and Society (MDES) to implement access blocking measures.

According to the official announcement, users in Thailand are expected to be unable to access the Bitget platform normally starting from December 5. The SEC specifically reminds investors currently using Bitget to consider properly handling the assets stored on the platform before the blockade takes effect to avoid losses or other impacts caused by subsequent inability to access the service.

The regulatory agency also warned that using digital asset service providers that have not obtained local licenses may not enjoy investor protection under relevant Thai laws.

Bitget just announced the acquisition of a licensed exchange in Thailand, but was blocked by regulators

Another noteworthy background to this enforcement action is that Bitget is actively seeking to enter the Thai compliance market.

according to Bitget October 20th Announcement, the company plans to acquire GMO-Z.com Cryptonomics (Thailand), a subsidiary of the Japanese GMO Group, through BTGT Management (Thailand), which holds an interest, which is a licensed digital asset trading and brokerage company in Thailand.

However, the transaction is still subject to applicable regulatory approvals, including review related to change of control. This means that on the one hand, Bitget is seeking to establish a compliance operation base through acquisitions, but on the other hand, it is facing criminal investigation for providing unlicensed trading services to Thai users in the past.

The latest announcement from the Thai SEC did not indicate whether the whistleblower would affect the acquisition, so it cannot be concluded that the transaction has been rejected.

BGB fell about 3.4%, supervision of crypto exchanges in Thailand continues to tighten

Affected by the weakening of the overall cryptocurrency market, Bitget Token (BGB) fell simultaneously. According to CoinGecko’s query data on November 6, BGB was quoted at approximately US$1.73, down approximately 3.4% in 24 hours, with a circulating market value of approximately US$1.208 billion.

However, there is currently no sufficient evidence to prove that BGB's decline was mainly caused by regulatory incidents in Thailand.

In fact, Thailand has already stepped up its crackdown on unlicensed cryptocurrency platforms. In 2025, regulatory authorities haveannounce blockade Bybit, OKX, CoinEx and other five platforms provide trading services to local users without permission. Now that Bitget has become the target of law enforcement again, it shows that Thailand continues to require overseas crypto exchanges to comply with local licensing and investor protection regulations.

〈Bitget was criminally reported by Thailand SEC! Block websites and apps on December 5, urging users to dispose of assets〉This article was first published inBlock Guest》.