Thailand’s securities regulator has filed a criminal complaint against BG Limited, the operator of cryptocurrency exchange Bitget, for allegedly operating without a license.
Thailand’s Securities and Exchange Commission (SEC) said Thursday that it had notified the Ministry of Digital Economy and Society to block access to Bitget from Dec. 5. The restriction will cover Bitget’s website, other associated domains and its mobile app.
The regulator advised users to take action regarding assets held on the platform before the deadline.
The complaint follows Bitget’s Oct. 20 announcement of plans to acquire a licensed Thai crypto exchange.
SEC cites Thai language promotions and trading fees
According to the SEC, Bitget offered crypto trading services between 2022 and 2025, charged trading fees and promoted its services in Thai through its websites and social media channels. The regulator said these activities violated Thailand’s digital asset business licensing requirements.
The complaint also names Kritsana Kritsananuwat, whom the SEC accused of helping promote Bitget through Facebook and YouTube. The watchdog previously filed a criminal complaint against him in March 2025 over allegations that he helped promote OKX’s unlicensed exchange activities.
Cointelegraph attempted to contact Kritsananuwat through a phone number listed for advertising inquiries in a video on his YouTube channel but was unable to reach him.
Thailand introduced licensing requirements for digital asset businesses in 2018 and tightened the rules in April 2025 to cover foreign platforms targeting Thai users. Changes to a separate cybercrime law also made it easier for the ministry to block access to unlicensed platforms.
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The regulator filed the complaint with Thailand’s Economic Crime Suppression Division for investigation. Prosecutors will decide whether to bring charges, while courts will determine criminal liability.
Bitget did not immediately respond to Cointelegraph’s request for comment.
Bitget pursued licensed Thai presence ahead of SEC complaint
Bitget announced plans on Oct. 20 to acquire GMO-Z.com Cryptonomics, a locally licensed crypto exchange and brokerage, through BTGT Management (Thailand), a company in which Bitget said it held an interest.
The proposed acquisition remained subject to regulatory approval and other conditions at the time of the disclosure. Bitget said it intended to introduce its trading platform to Thai users after completing the transaction and obtaining approval for the change of control.
“Thailand is an important part of Southeast Asia’s digital asset landscape, and this acquisition gives us a great opportunity to establish local operations,” Bitget CEO Gracy Chen said at the time.
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