Thailand’s Regulator Files Criminal Charges Against Bitget Over Unlicensed Crypto Trading

On Thursday, Thailand’s Securities and Exchange Commission (SEC) announced that it had instructed the Ministry of Digital Economy and Society to block access to Bitget starting December 5. This restriction applies to the Bitget website, related domains, and its mobile application.

The SEC urged users to manage and withdraw their assets held on the Bitget platform before the blocking date.

This regulatory move came shortly after Bitget revealed plans to buy a licensed Thai cryptocurrency exchange, reflecting increased scrutiny and enforcement by local authorities against unlicensed trading platforms.

According to the SEC, Bitget provided crypto trading services from 2022 through 2025, charged fees for trading activities, and promoted its offerings via Thai-language websites and social media. The regulator indicated these actions breached Thailand’s digital asset licensing laws.

Thailand implemented its crypto exchange licensing framework in 2018 and further tightened regulations in April 2025 to explicitly cover foreign exchanges serving Thai users. These updates also enhanced authorities’ powers to restrict access to platforms operating without licenses.

The complaint was submitted to Thailand’s Economic Crime Suppression Division, which will investigate the matter. Prosecutors will then decide on pursuing charges, with courts eventually determining any criminal responsibility.

Under a 2025 decree aimed at safeguarding investors and combating financial crimes, Thailand's Ministry of Digital Economy and Society has the authority to block access to unlicensed cryptocurrency services.

Bitget did not provide an immediate response to media inquiries seeking comment on the allegations.

The SEC’s complaint follows Bitget’s announcement, made just over two weeks earlier, of its intention to acquire GMO-Z.com Cryptonomics, a locally licensed Thai crypto exchange and broker, through its affiliate BTGT Management.

This proposed acquisition, disclosed on October 20, was still awaiting regulatory approval. Bitget expressed its goal to launch its trading platform for Thai customers once the deal was completed.

"Thailand plays a key role in Southeast Asia’s digital asset ecosystem, and this acquisition opens the door to establishing our local presence," stated Bitget CEO Gracy Chen at the time of the announcement.

The SEC’s latest complaint also mentions Kritsana Kritsananuwat, accused of assisting Bitget’s promotion via Facebook and YouTube channels to attract prospective users. Previously, he was charged by authorities for promoting OKX without a license earlier in 2025.

The regulator’s firm stance against unauthorized crypto trading highlights the increasing emphasis on compliance within Thailand’s digital asset sector.

These developments underscore the importance of licensed operation for cryptocurrency platforms aiming to serve the Thai market and signal stricter enforcement going forward.

Ensuring regulatory compliance protects investors and promotes trust in Thailand’s growing digital asset industry.