Thailand's SEC files criminal complaint against Bitget, seeks platform block from Dec. 5

Published Thu, 05 Nov 2026 00:00:00 UTC · Updated Fri, 06 Nov 2026 20:05:00 UTC · Edited by Bizzle · AI-assisted

🔴BearishA major Southeast Asian market is moving to block a large offshore exchange and has opened a criminal case, raising compliance risk around Bitget's Thailand expansion path.News sentiment, not financial advice. It reflects the likely impact of this news, not a price prediction.

Summary

Thailand's Securities and Exchange Commission filed a criminal complaint against BG Limited, Bitget's operator, alleging it ran an unlicensed crypto exchange for Thai users from 2022 to 2025, and asked authorities to block Bitget's website and app from Dec. 5, Cointelegraph and CoinDesk reported.

Both outlets said the SEC cited Thai-language promotions, baht pricing and trading fees; Cointelegraph said the complaint also names promoter Kritsana Kritsananuwat and that a Bitget spokesperson told it the firm was reviewing the announcement while stressing user assets remain safe.

CoinDesk noted Bitget's own terms already list Thailand as prohibited, and that the planned block lands five days after a revised Nov. 30 share-transfer date for Bitget-linked BTGT Management's bid to buy licensed Thai exchange GMO-Z, a deal still pending regulatory approval after GMO Internet delayed the close from Oct. 31.

Cointelegraph said Thailand tightened rules in April 2025 to cover foreign platforms targeting Thai users and has previously moved against other offshore venues such as Bybit and OKX.

Updates

Update, Fri, 06 Nov 2026 20:05:00 UTC: Update (Nov. 6 noon): Bitcoin Magazine, citing Thailand SEC statement No. 241/2026, said the criminal complaint was lodged with the Economic Crime Suppression Division against BG Limited and promoter Kritsana Kritsananuwat, alleged Thai-language solicitation across X/Telegram/TikTok channels, and that the Ministry of Digital Economy and Society was notified so the public "will be unable to access the platform" from Dec. 5; it also restated the GMO-Z share-transfer slip to Nov. 30.

Key facts

Cointelegraph / CoinDesk: Thailand SEC filed a criminal complaint against BG Limited and notified the Ministry of Digital Economy and Society to block Bitget access from Dec. 5. (Cointelegraph)
CoinDesk: the SEC alleged unlicensed services from 2022 to 2025, including Thai-language sites showing baht prices and associated social channels. (CoinDesk)
CoinDesk: seller GMO Internet delayed the GMO-Z share transfer to Bitget-linked BTGT Management from Oct. 31 to Nov. 30 pending regulatory approvals—five days before the planned block. (CoinDesk)
Cointelegraph: a Bitget spokesperson said the exchange was evaluating engagement with the regulator and that user assets remain safe. (Cointelegraph)