Thailand’s securities authority has initiated a criminal complaint against cryptocurrency exchange Bitget and initiated steps to restrict access to its platform starting December 5, introducing doubts regarding the firm’s strategy to enter the domestic market via a regulated local trading platform.
The Securities and Exchange Commission (SEC) announced that Bitget’s operating entity, BG Limited, provided digital asset exchange services in Thailand without proper authorization between 2022 and 2025.
The regulatory body stated that Bitget collected transaction fees and actively targeted Thai users by launching a Thai-language portal that displayed pricing in the nation’s fiat currency, the baht, alongside maintaining dedicated social media profiles.
The commission transferred the matter to law enforcement and requested the administration to block Bitget’s web application and mobile software starting December 5, while advising clients to withdraw or relocate any funds stored on the site prior to the implementation of these measures.
Bitget’s terms of service, which received their most recent update in October, currently name Thailand among the jurisdictions where platform access is forbidden.
This development unfolds while Bitget attempts to secure clearance to purchase GMO-Z, an authorized cryptocurrency trading and brokerage venue, utilizing BTGT Management (Thailand), an entity connected to Bitget.
This transaction would supply Bitget with a compliant pathway into the Thai digital asset sector. The vendor, GMO Internet, postponed the equity transfer from October 31 until November 30, pointing to administrative tasks related to compliance permissions.
Consequently, the updated transaction timeline falls five days ahead of the scheduled platform blockade. The SEC has not clarified whether the newly filed legal complaint might influence the buyout.
Thailand has previously implemented comparable measures targeting foreign digital asset platforms, such as Bybit and OKX, as part of an ongoing enforcement initiative against unauthorized cryptocurrency operations.
Representatives for Bitget, GMO Internet, and the SEC did not provide statements when approached for commentary.
Originally published at https://www.coindesk.com/business/2026/11/05/thailand-moves-to-block-bitget-as-crypto-exchange-s-local-acquisition-faces-uncertainty.
