Thailand SEC files criminal complaint against Bitget for unlicensed operations

Thailand's SEC has filed a criminal complaint against BG Limited, operator of crypto exchange Bitget, alleging unlicensed exchange operations from 2022 to 2025. Authorities plan to block Bitget's platform on December 5, 2026. The crackdown coincides with Bitget's pending acquisition of licensed local exchange GMO-Z.com Cryptonomics via BTGT Management, which was delayed to November 30, creating significant regulatory uncertainty.

SEC legal action against Bitget

• ▪The Thailand SEC alleged Bitget violated Section 26 of the Emergency Decree on Digital Asset Businesses B.E. 2561 by operating a trading system without a license, charging fees, and displaying values in Thai baht
• ▪Thailand's Securities and Exchange Commission filed a criminal complaint against BG Limited, the operator of cryptocurrency exchange Bitget, alleging unlicensed digital-asset exchange operations for Thai users from 2022 to 2025
• ▪The Thailand SEC lodged a criminal complaint naming Kritsana Kritsananuwat as an alleged supporter who promoted Bitget through Facebook and YouTube channels

Access restrictions and social media promotion

• ▪The Thailand SEC submitted Bitget's website, domains, and mobile application to the Ministry of Digital Economy and Society to block public access to the platform starting December 5, 2026
• ▪Thailand's SEC alleged Bitget solicited Thai users through social channels including 'Bitget Thailand' on X, 'BGB Thai Holder' on Telegram, and 'bitgetthailand' on TikTok from 2022 through 2025

Bitget Thailand restrictions and public response

• ▪Bitget did not publicly respond to the Thailand SEC criminal complaint in the statement published alongside its Oct. 20 release announcing the local GMO-Z.com Cryptonomics exchange acquisition
• ▪Bitget updated its terms of use in October 2026 to list Thailand among the jurisdictions where its cryptocurrency trading services are prohibited

Bitget acquisition of GMO-Z.com Cryptonomics

• ▪Bitget CEO Gracy Chen stated on October 20, 2026, that the planned GMO-Z acquisition gives Bitget an opportunity to establish local operations under Thai regulatory rules
• ▪Bitget-linked entity BTGT Management (Thailand) Ltd. planned to acquire a total stake in licensed Bangkok digital-asset exchange GMO-Z.com Cryptonomics from GMO Internet and its Thai holding company
• ▪GMO Internet Group delayed the share transfer date for the GMO-Z acquisition from October 31 to November 30, 2026, five days before the Thailand government's planned December 5 access block

Thailand actions against unlicensed crypto platforms

• ▪Thailand enacted a royal decree in 2025 that authorizes government access blocks on unlicensed digital asset trading platforms
• ▪In mid-2025, the Thailand SEC referred unlicensed crypto exchange platforms including Bybit and OKX to the Ministry of Digital Economy and Society for a June 28 access cutoff

Thailand policies supporting regulated crypto markets

• ▪Thailand has expanded its regulated digital asset offerings into derivatives and capital markets
• ▪Thailand provides multi-year capital-gains tax breaks exclusively for digital asset trades executed on SEC-regulated platforms