Thailand Plans to Block Bitget from December 5

The Securities and Exchange Commission of Thailand (SEC) has filed a criminal complaint against the cryptocurrency exchange operator Bitget – BG Limited. The regulator claims that the platform provided cryptocurrency trading services to Thai users without the necessary license from 2022 to 2025.

According to the SEC, Bitget charged trading commissions and attracted clients from Thailand through a Thai-language website where prices were displayed in the local currency – baht. The company also had social media accounts associated with the platform. The regulator has referred the case to the police and requested the government to block the Bitget website and app from December 5, 2026. Users were advised to secure their assets stored on the platform in advance.

The situation complicates Bitget's plans to enter the local market through the acquisition of the licensed cryptocurrency exchange and broker GMO-Z. The deal is expected to be conducted through BTGT Management (Thailand) – a company associated with Bitget. Meanwhile, the seller, GMO Internet, postponed the transfer of shares from October 31 to November 30, citing the need to complete regulatory approvals as the reason for the delay. The new deal date is just five days before the planned platform block.

The SEC has not yet reported whether the criminal complaint could affect the acquisition of GMO-Z. However, Bitget's terms of use, updated in October, already include Thailand in the list of countries where the exchange's services are prohibited.

Previously, Thai authorities have taken similar measures against foreign cryptocurrency platforms, including Bybit and OKX, as part of the crackdown on unlicensed cryptocurrency trading.