Thailand’s Securities and Exchange Commission (SEC) announced on Thursday that it has filed a criminal complaint against BG Limited, the operator of the cryptocurrency exchange Bitget, for providing unlicensed crypto‑trading services. The regulator said it has instructed the Ministry of Digital Economy and Society to block access to Bitget’s website, associated domains and mobile app nationwide beginning Dec 5, 2026.

According to the SEC, Bitget offered trading services in Thailand from 2022 through 2025, collected trading fees and promoted its platform via Thai‑language websites and social media. The regulator said these activities breached the country’s digital‑asset business licensing requirements introduced under a 2025 decree that empowers the ministry to restrict unlicensed platforms. The complaint was lodged with the Economic Crime Suppression Division, which will investigate the alleged violations. Prosecutors will decide whether to bring formal charges, and any criminal liability will be determined by the courts.

Impact on users and the market

The SEC’s order includes a warning to Thai users to take action regarding any assets held on Bitget before the blocking deadline. The regulator’s notice did not provide a timeline for asset withdrawals, but urged users to secure their funds promptly. The impending block adds to a broader trend of Southeast Asian regulators tightening oversight of crypto exchanges, following similar actions in Vietnam and Indonesia.

What to watch next

The next steps will hinge on the outcome of the Economic Crime Suppression Division’s investigation and any subsequent prosecutorial decisions. Observers will also monitor whether Bitget seeks to obtain a local license or relocate its services. Finally, the enforcement may influence other foreign exchanges operating in Thailand without proper licensing, potentially prompting a wave of compliance filings or further blocks.