Thailand SEC to Block Bitget Exchange Over Unlicensed Operations Claims

The Securities and Exchange Commission (SEC) of Thailand has initiated formal legal proceedings against BG Limited, the operating entity behind the Bitget cryptocurrency exchange. According to an official announcement released on November 5, 2026, the regulator has filed a criminal complaint with the Economic Crime Suppression Division (ECD), alleging that the platform has been providing digital asset services within the kingdom without the mandatory legal authorization. As a direct consequence, Thai authorities have scheduled a nationwide block on Bitget’s digital infrastructure, including its website and mobile applications, effective December 5, 2026.

Investigation Findings and Regulatory Violations

The enforcement action follows a comprehensive investigation into Bitget’s activities spanning from 2022 to 2025. The SEC’s findings indicate that the platform actively targeted the local market by offering a comprehensive suite of digital asset trading services. The regulator cited several specific factors that demonstrate the exchange's intent to operate within Thailand's jurisdiction:

• The provision of a dedicated Thai language website and interface.
• Support for transactions denominated in Thai Baht (THB).
• Active promotion through localized social media channels, specifically "Bitget Thailand."
• The collection of trading fees from local users without local registration.

These activities are considered a violation of the Emergency Decree on Digital Asset Businesses B.E. 2561, which requires all entities offering exchange, brokerage, or dealing services to obtain a license from the Ministry of Finance upon the recommendation of the SEC.

Coordinated Enforcement and Access Restrictions

To enforce the ban, the SEC has formally notified the Ministry of Digital Economy and Society (MDES) to initiate the technical blocking of Bitget’s primary domains and mobile application interfaces. This move reflects Thailand’s tightening grip on offshore service providers that operate outside the domestic regulatory perimeter. The SEC has emphasized that operating without a license prevents the regulator from ensuring that the platform maintains adequate standards for investor protection, anti-money laundering (AML) protocols, and cybersecurity safeguards.

The legal complaint filed with the ECD marks a transition from administrative warnings to criminal prosecution. Under Thai law, operating an unlicensed digital asset business carries significant penalties, including potential imprisonment and substantial fines for the company's directors and the entity itself.

In light of the impending access restrictions on December 5, the regulator has advised Thai investors to be cautious when dealing with unlicensed platforms. The SEC maintains a "Whistleblower" system and a public list of licensed operators to help users verify the legal status of exchanges. This case serves as a broader signal to the global cryptocurrency ecosystem that Thai authorities are prioritizing the enforcement of domestic financial laws to mitigate risks associated with unregulated digital asset trading.