Bitget Faces Thai SEC Block From Dec. 5 Over Unlicensed Trading

By Nodora News · 6 November 2026

Thailand's SEC filed a criminal complaint against Bitget operator BG Limited and set a Dec. 5 access block for unlicensed digital-asset trading.

Thailand's Securities and Exchange Commission (SEC) on Thursday, Nov. 5, 2026, filed a criminal complaint with the Economic Crime Suppression Division against BG Limited, the operator of the Bitget exchange at www.bitget.com, for allegedly running an unlicensed digital asset exchange. The regulator also notified the Ministry of Digital Economy and Society (MDES) to block access to Bitget's website, related domains, and mobile app from 5 December 2026, and advised users to act on assets held on the platform before that date.

Key takeaways

• Thai SEC Notice No. 241/2026 (Thursday 5 Nov 2026) names BG Limited for unlicensed exchange activity under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).
• Mr. Kritsana Kritsananuwat is separately named for alleged promotional assistance via Facebook "Srisiam" and YouTube "SRISIAM".
• MDES access block for Bitget's site, domains, and app is scheduled from 5 December 2026; the SEC says users should consider moving assets before then.
• Findings cite 2022–2025 trading systems, fees, a Thai-language site with baht values, and Thai promo on X, Telegram, and TikTok.
• Bitget's Oct. 20 plan to acquire licensed Thai exchange GMO-Z.com Cryptonomics via BTGT Management remains separate and approval-pending; a Bitget spokesperson said user assets remain safe while the firm reviews engagement with the SEC.

What the Thai SEC filed against Bitget

In its English release, the SEC said BG Limited provided a digital asset trading system in the ordinary course of business, charged fees, and offered a Thai-language website that could display equivalent values in Thai baht. Promotion aimed at Thai users allegedly ran through X account "Bitget Thailand", Telegram "BGB Thai Holder", and TikTok "bitgetthailand".

Those facts, the regulator argued, amount to operating a digital asset exchange under Section 3 of the Emergency Decree. Operating without a license violates Section 26 and is punishable under Section 66.

The same complaint alleges that Mr. Kritsana Kritsananuwat assisted promotion through Facebook page "Srisiam" and YouTube channel "SRISIAM". The SEC frames that as assisting unlicensed exchange activity under Section 26 / Section 66, read with Section 86 of the Criminal Code. Cointelegraph noted a prior March 2025 complaint against him over alleged OKX promotion.

Filing with the Economic Crime Suppression Division starts investigation, possible prosecution, then court adjudication. A complaint is not a conviction.

The Dec. 5 block and the legal basis

Alongside the complaint, the SEC submitted Bitget platform details — www.bitget.com, other Bitget domains, and the app — to MDES under the Royal Decree on Measures for Preventing and Suppressing Technology Related Crimes (No. 2) B.E. 2568 (2025). That decree authorizes MDES to block unlicensed digital asset trading platforms.

From 5 December 2026, the public in Thailand is expected to be unable to reach the platform through normal access paths. The notice does not describe automatic liquidation of balances; it tells users to consider their own steps on assets before the cut-off.

Thailand licensed digital asset businesses under the 2018 Emergency Decree and tightened rules in April 2025 for foreign platforms that target Thai users. In June 2025, authorities blocked Bybit, OKX, and CoinEx under the same toolkit — a precedent MediaNama and crypto.news place beside the Bitget action.

Why it matters — and Bitget's Thai acquisition plan

The case sits at the junction of marketing-led market entry and formal licensing. Bitget announced on Oct. 20 a plan to acquire GMO-Z.com Cryptonomics — operator of licensed Thai venue Z.com EX — through BTGT Management (Thailand). Closing still needs Thai SEC change-of-control approval and other conditions. That path is separate from the criminal complaint and the Dec. 5 access block.

A Bitget spokesperson told Cointelegraph and crypto.news the firm is reviewing the SEC announcement and evaluating how to engage with the regulator. "User assets remain safe," the spokesperson said, adding that guidance on any access changes would come through official channels.

For the wider exchange industry, the episode echoes themes Nodora has tracked on venue trust and custody, including Gate's proof-of-security cold-coverage disclosure and U.S. broker-rule work entering White House review. Thailand's move is national enforcement against unlicensed targeting, not a U.S. rulemaking — but it adds pressure for clear local licences when platforms court retail users.

Market reaction

The Bitget news landed in a soft broader crypto tape rather than a Thailand-only shock. Spot prices on OKX around 22:57 AEDT Nov. 6, 2026 (about 11:57 UTC) showed:

• Bitcoin (BTC): about $76,115, down roughly 5.3% over 24 hours.
• BNB: about $696.25, down roughly 2.9%.
• Ether (ETH): about $2,242, down roughly 7.4%.

BTC is the market-context chart for this regulation story; live levels are on the Nodora charts page. Exchange-access risk in one jurisdiction rarely moves global spot alone, but it does raise operational questions for Thai users and for venues still building a licensed onshore footprint.

What to watch

• MDES implementation: whether the Dec. 5 block covers all named domains and app stores as announced.
• ECD investigation: whether prosecutors bring charges against BG Limited and Mr. Kritsana, and on what timeline.
• User guidance: any official Bitget instructions for Thai-resident balances before and after the access cut-off.
• GMO-Z.com deal: whether Thai SEC change-of-control approval advances, stalls, or is reframed after the complaint.
• Regional pattern: further blocks of foreign platforms marketing to Thai users without a local licence, following the June 2025 Bybit / OKX / CoinEx actions.

For now, the official record is clear: Thailand's SEC has opened a criminal path against Bitget's operator and one alleged promoter, and national access blocking is scheduled for 5 December 2026. Follow SEC, MDES, and Bitget official channels — not unverified social posts — for next steps.

This article is for information only and is not financial advice.

#Bitget #Thailand #SEC #Regulation #Exchange

This article is general information, not financial advice.