Thailand to Block Bitget Over Unlicensed Crypto Trading

Thailand’s securities regulator has filed a prison criticism in opposition to BG Restricted, the operator of cryptocurrency change Bitget, for allegedly working with out a license.

Thailand’s Securities and Trade Fee (SEC) said Thursday that it had notified the Ministry of Digital Financial system and Society to block entry to Bitget from Dec. 5. The restriction will cowl Bitget’s web site, different related domains and its cell app.

The regulator suggested customers to take motion relating to property held on the platform earlier than the deadline.

The criticism follows Bitget’s Oct. 20 announcement of plans to acquire a licensed Thai crypto exchange.

SEC cites Thai language promotions and buying and selling charges

In accordance to the SEC, Bitget supplied crypto buying and selling companies between 2022 and 2025, charged buying and selling charges and promoted its companies in Thai by its web sites and social media channels. The regulator mentioned these actions violated Thailand’s digital asset enterprise licensing necessities.

The criticism additionally names Kritsana Kritsananuwat, whom the SEC accused of serving to promote Bitget by Fb and YouTube. The watchdog beforehand filed a prison criticism in opposition to him in March 2025 over allegations that he helped promote OKX’s unlicensed change actions.

Cointelegraph tried to contact Kritsananuwat by a telephone quantity listed for promoting inquiries in a video on his YouTube channel however was unable to attain him.

Thailand launched licensing requirements for digital asset businesses in 2018 and tightened the foundations in April 2025 to cowl overseas platforms concentrating on Thai customers. Modifications to a separate cybercrime legislation additionally made it simpler for the ministry to block entry to unlicensed platforms.

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The regulator filed the criticism with Thailand’s Financial Crime Suppression Division for investigation. Prosecutors will resolve whether or not to deliver prices, whereas courts will decide prison legal responsibility.

Bitget didn’t instantly reply to Cointelegraph’s request for remark.

Bitget pursued licensed Thai presence forward of SEC criticism

Bitget introduced plans on Oct. 20 to purchase GMO-Z.com Cryptonomics, a regionally licensed crypto change and brokerage, by BTGT Administration (Thailand), an organization through which Bitget mentioned it held an curiosity.

The proposed acquisition remained topic to regulatory approval and different circumstances on the time of the disclosure. Bitget mentioned it supposed to introduce its buying and selling platform to Thai customers after finishing the transaction and acquiring approval for the change of management.

“Thailand is a crucial a part of Southeast Asia’s digital asset panorama, and this acquisition provides us a terrific alternative to set up native operations,” Bitget CEO Gracy Chen mentioned on the time.

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