Thailand Plans December 5 Bitget Block as SEC Files Complaint Over Unlicensed Trading

Thai users face an access deadline as investigators examine Bitget

Thailand plans to block access to Bitget's website, related domains and mobile application from December 5, 2026, after the Securities and Exchange Commission filed a criminal complaint accusing its operator, BG Limited, of providing cryptocurrency trading services without a local license between 2022 and 2025.

The SEC announced the action on November 5, 2026, and referred the complaint to the Economic Crime Suppression Division. Its allegations cover trading services, fee collection and efforts to attract Thai customers through a website in Thai, prices displayed in baht and promotions across several social media platforms.

The regulator also named Kritsana Kritsananuwat, alleging that he helped promote Bitget through the Srisiam Facebook page and SRISIAM YouTube channel. Investigators will examine the allegations, prosecutors will decide whether to bring charges, and courts would determine criminal liability.

For customers, the immediate concern is access to their accounts. The SEC has urged people holding assets on Bitget to review their holdings and decide what steps to take before the restriction begins. Its warning concerns an approaching access deadline, while the criminal process follows a separate course.

What trading activity does the SEC allege?

BG Limited allegedly operated a system for buying, selling and exchanging digital assets as a regular business and charged customers trading fees. The SEC says those activities took place from 2022 through 2025 without the authorization required by Thailand's Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).

The complaint draws on three sections of that law. Section 3 defines a digital asset exchange business. Section 26 sets the licensing requirement that the regulator says BG Limited breached, while Section 66 provides the associated penalties. In simple terms, the SEC's case concerns whether Bitget conducted a business that needed Thai permission before serving local customers.

The regulator identified several features as evidence that Bitget sought business in Thailand: a website in Thai, cryptocurrency values shown in Thai baht, an X account called "Bitget Thailand," the Telegram group "BGB Thai Holder" and a TikTok account named "bitgetthailand." Together, these form the SEC's account of how the platform reached Thai users.

The allegations therefore extend beyond the existence of an overseas website that people in Thailand could visit. They focus on the trading services, fees and specific promotional activity that the regulator says brought the operation within Thailand's licensing rules.

Why is a promoter named in the complaint?

Kritsana Kritsananuwat is accused of publicizing Bitget's services and promotional campaigns through Facebook and YouTube. The SEC alleges that his activity increased awareness of the exchange and encouraged people to use it.

The complaint cites Section 66 of the digital asset decree together with Section 86 of Thailand's Criminal Code, which concerns assistance in an offense. The regulator is pursuing allegations about both the exchange operation and the assistance it says supported that business. Kritsana's alleged role centers on promotion through the Srisiam and SRISIAM accounts.

How the website and app restriction would work

The SEC notified the Ministry of Digital Economy and Society about Bitget's main website, related domains and application, seeking restrictions from December 5. The ministry's authority comes from the Royal Decree on Measures for Preventing and Suppressing Technology-Related Crimes (No. 2) B.E. 2568 (2025).

That decree gives the ministry authority to restrict access to unlicensed digital asset trading platforms. The SEC described investor protection and the prevention of fraud and money laundering as reasons for using the measure.

The scope matters for customers because the request covers several routes to the same service. Alongside the main website, associated domains and the mobile application are included. Users who normally manage their holdings through an app face the same approaching deadline as those who trade through a browser.

What customers have been told about their assets

The SEC has asked Bitget users to review their accounts and take appropriate action concerning assets before December 5. The announcement leaves customers to decide how to handle their holdings; it contains no requirement to sell cryptocurrency or instruction for automatic liquidation.

A Bitget spokesperson said the company was reviewing the announcement and considering how to engage with the regulator.

"We're aware of the Thai SEC announcement, and our teams are reviewing the details and evaluating our options to engage with the SEC," the Bitget spokesperson said.

The spokesperson also addressed customer funds and promised further information about access and any action users might need to take.

User assets remain safe. We will provide guidance on any changes affecting access and any steps affected users may need to take.

Bitget said it would communicate developments through its official channels. Customers therefore have two immediate points to follow: the authorities' December 5 access deadline and the company's promised instructions about any changes affecting their accounts.

A proposed acquisition offers a different route into Thailand

Bitget announced on October 20 that it planned to acquire a 99.94% stake in GMO-Z.com Cryptonomics (Thailand), the operator of the locally licensed Z.com EX exchange and brokerage. The proposed purchase would take place through BTGT Management (Thailand).

The stake was held by GMO Internet and its Thai subsidiary. The seller originally scheduled the share transfer for October 31, subject to regulatory approval and other conditions. Bitget chief executive Gracy Chen said the acquisition could provide an opportunity to establish local operations.

Bitget's stated plan was to introduce its trading platform to Thai customers through the local business after the transaction closed and the required approvals were obtained. Its October user agreement already listed Thailand among jurisdictions restricted from accessing the international platform.

The acquisition and the complaint involve different activities and periods. The complaint concerns alleged operations between 2022 and 2025, while the acquisition concerns a proposed entry through a licensed Thai company. The SEC has not confirmed whether the purchase was completed or explained whether the complaint will affect its approval, and Bitget has given no launch date for the proposed local service.

The dates that explain the case

The sequence shows how the investigation, earlier enforcement and proposed acquisition fit together. The December restriction follows allegations about several years of trading activity, rather than only the recent acquisition announcement.

• 2022 to 2025: The period during which the SEC alleges Bitget provided trading services, collected fees and targeted Thai customers without a license.
• June 28, 2025: Thailand blocked five other unlicensed platforms: Bybit, 1000X, CoinEx, OKX and XT.COM.
• October 20, 2026: Bitget announced its planned acquisition of the licensed Thai exchange and brokerage.
• October 31, 2026: The seller's original scheduled date for the share transfer, subject to conditions and approvals.
• November 5, 2026: The SEC announced the criminal complaint and planned access restriction.
• December 5, 2026: The scheduled start of restrictions on Bitget's website, related domains and app.

The Economic Crime Suppression Division's investigation is the next legal stage. The SEC's enforcement database listed the November 5 complaints as under investigation, and the regulator said it would monitor the case and cooperate with the relevant authorities.

Thailand is combining access controls with licensed market rules

The five platform restrictions imposed in June 2025 provide a direct precedent for the planned Bitget block. Thai authorities are using licensing enforcement alongside controls on access to services that they say operate without domestic authorization.

The SEC has also introduced rules for products inside the regulated market. On October 9, it approved rules for local Bitcoin and Ethereum exchange-traded funds, effective October 16. An exchange-traded fund lets investors buy shares in a fund through a stock exchange, rather than manage the underlying cryptocurrency directly.

The framework requires local funds to hold at least 80% of their assets in a single underlying asset and list only on the Stock Exchange of Thailand. Investors are also prohibited from buying these funds using margin loans, meaning borrowed money used to finance an investment.

On September 2, the SEC issued an interim Travel Rule framework for digital asset transfers after work with the Anti-Money Laundering Office. The Travel Rule concerns information accompanying transfers so that the parties involved can be identified. These measures show the two parts of Thailand's approach: setting conditions for regulated services and restricting platforms operating outside its licensing system.

Where users can check authorization

The SEC warns that customers of unlicensed digital asset businesses do not receive the investor protections provided under Thailand's laws governing the sector. It directs investors to its website and SEC Check First application to verify whether a provider has the required authorization.

The regulator also maintains an Investor Alert list of people and businesses outside its supervision. Suspected misconduct can be reported through the SEC Complaint Center hotline at 1207, its official Facebook page or its website live chat.

Bitget Token traded near $1.73 on November 6, down about 3.4% over 24 hours amid a broader cryptocurrency selloff. For Thai customers, the more concrete development is the scheduled interruption to access and the need to follow account instructions before December 5.

Key Points

• Thailand plans to block Bitget's website, related domains and app from December 5, 2026.
• The SEC alleges BG Limited provided unlicensed trading services and collected fees between 2022 and 2025.
• Kritsana Kritsananuwat is also named over alleged promotional assistance through Facebook and YouTube.
• Investigators will examine the complaint before prosecutors decide whether to bring charges.
• Users have been urged to review their holdings before the access deadline; the announcement requires no automatic sale.
• Bitget's proposed purchase of a 99.94% stake in a licensed Thai business remains subject to approval and transaction conditions.