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Thailand to block Bitget exchange in December over unlicensed operations
Thailand's securities regulator filed criminal charges against Bitget and ordered access restrictions starting December 5.
Key takeaways
- Access deadline. Users must withdraw or transfer assets from Bitget before December 5, when Thailand will block all access to the platform's website, domains and app.
- Regulatory precedent. Thailand previously blocked five unlicensed exchanges including Bybit, OKX and CoinEx in June 2025 under the same enforcement framework.
- Acquisition plans affected. The enforcement action follows Bitget's October announcement to acquire a licensed Thai exchange, a transaction that still requires regulatory approval.
What happened
Thailand's Securities and Exchange Commission announced November 5 that it filed a criminal complaint against BG Limited, the operator of cryptocurrency exchange Bitget, for conducting unlicensed digital asset trading. The regulator notified Thailand's Ministry of Digital Economy and Society to block access to Bitget's website, associated domains and mobile application beginning December 5, 2026.
According to the SEC's findings, Bitget provided cryptocurrency exchange services to Thai customers between 2022 and 2025 without obtaining the required license under Thailand's digital asset business laws. The platform operated a Thai-language website displaying prices in Thai baht, collected trading fees and actively promoted its services through multiple social media channels including X, Telegram and TikTok accounts targeting Thai users.
The regulator separately named Kritsana Kritsananuwat in the complaint, alleging he assisted Bitget's promotional efforts through the Facebook page "Srisiam" and YouTube channel "SRISIAM." The SEC referred the case to Thailand's Economic Crime Suppression Division for investigation, with prosecutors to decide whether criminal charges will be filed and courts to determine liability.
Authorities advised Bitget users to take action regarding their holdings before the December 5 deadline but did not specify an automatic liquidation process. Cointelegraph and Crypto.news both reported that Bitget did not immediately respond to requests for comment regarding the allegations and planned restrictions.
Why it matters
Thailand has established itself as an active enforcer of digital asset regulations, using access restrictions as a primary tool to prevent unlicensed platforms from operating within its jurisdiction. The country views these measures as essential for investor protection and preventing unlicensed exchanges from facilitating money laundering and other financial crimes. This enforcement action demonstrates Thailand's commitment to applying its regulatory framework consistently across major platforms, following similar blocks of Bybit, OKX and CoinEx in June 2025.
Background
Thailand introduced its Emergency Decree on Digital Asset Businesses in 2018, establishing licensing requirements for platforms offering cryptocurrency trading services. The country later enacted a 2025 Royal Decree on Measures for Preventing and Suppressing Technology-Related Crimes that granted the Ministry of Digital Economy and Society specific authority to restrict access to unlicensed digital asset trading platforms. This legal framework provides Thai regulators with the power to block websites and applications they determine are operating without proper authorization.
Bitget, a major global cryptocurrency exchange, announced in October plans to acquire GMO-Z.com Cryptonomics (Thailand), the operator of the locally licensed Z.com EX platform. The acquisition was intended to establish Bitget's legal presence in Thailand through a licensed entity. By October, Bitget had already restricted Thailand from accessing its international platform and updated its prohibited-jurisdiction list following similar actions regarding Russia and Belarus.
What to watch
The investigation by Thailand's Economic Crime Suppression Division will determine whether prosecutors bring criminal charges against BG Limited and the named individual. The SEC stated it would monitor the case and cooperate with authorities throughout the enforcement process. Additionally, the status of Bitget's proposed acquisition of the licensed Thai exchange remains unclear, as that transaction requires separate regulatory approval regardless of the current enforcement action.
Questions readers ask
What should Bitget users in Thailand do before December 5?
The SEC advised users to review their accounts and take appropriate action regarding their assets held on the platform. Users should withdraw funds or transfer positions before the access deadline, though authorities did not specify an automatic liquidation process.
Does this block affect Bitget's global operations?
The restriction applies specifically to access from Thailand. Users in other jurisdictions can continue using Bitget's platform unless their country has implemented similar restrictions.
What happens to Bitget's plan to acquire a licensed Thai exchange?
The enforcement action is separate from Bitget's October acquisition announcement. That transaction requires regulatory approval and remains a distinct matter that has not been addressed by this announcement.
