Thailand Bitget block set for December 5 after complaint

Thailand's securities regulator has started the clock on one of the world's larger crypto exchanges. A Thailand Bitget block will cut access to the platform's website and app from December 5, after the Securities and Exchange Commission filed a criminal complaint against operator BG Limited, according to a notice dated November 5.

What happened

The SEC said that between 2022 and 2025 Bitget offered a trading system for digital assets and charged fees for it without a Thai license. The regulator pointed to a Thai-language website that could show prices in baht, and to promotion through local channels including a "Bitget Thailand" account on X, a "BGB Thai Holder" Telegram group and a "bitgetthailand" TikTok profile.

The complaint, lodged with the Economic Crime Suppression Division, also names Kritsana Kritsananuwat, whom the SEC accuses of publicizing the exchange through the "Srisiam" Facebook page and YouTube channel. The SEC said the alleged conduct breaches Section 26 of the 2018 emergency decree on digital asset businesses. The case now moves to police inquiry, then public prosecutors and the courts. The SEC said operating without a license is punishable under Section 66 of the decree, while Kritsana's alleged assistance falls under that section combined with the Criminal Code's Section 86.

Separately, the SEC passed details of bitget.com, other domains and the app to the Ministry of Digital Economy and Society, which has powers to order unlicensed platforms blocked.

Why it matters

The notice does not order a freeze or forced sale of customer assets, CryptoSlate noted, but the SEC urged users to consider moving their holdings before the cutoff. Bitget's own terms already list Thailand as a prohibited country, which means many local users were technically outside its service rules before the Thailand Bitget block was announced.

The regulator said the block is meant to protect investors and stop fraudsters from using unlicensed platforms to launder money. It urged Bitget users to consider what to do with assets held on the platform before the cutoff and pointed investors to its SEC Check First app, which lists licensed digital asset operators.

Bangkok has been building a tightly licensed market at home, from Thai crypto ETF rules to approvals for domestic operators. Bitget itself had sought a foothold through a Thailand acquisition in October, which makes the enforcement action a notable setback for its regional plans.

What's next

Users have under four weeks to act before December 5. Watch for a response from Bitget, any change to withdrawal access for Thai customers and whether the SEC pursues similar action against other offshore venues.

Licensed local exchanges stand to gain if displaced traders move onshore. The regulator's full statement on the Thailand Bitget block is on the SEC website.