Thailand to block Bitget from 5 December over unlicensed trading
Why it matters
Offshore exchanges that court local customers without a licence now risk criminal cases in Thailand. A pending takeover of a licensed local firm is no shield: the regulator acted while Bitget's deal was still unfinished.
Post to XThe short version
Thailand's financial markets regulator has filed a criminal complaint against the company behind crypto trading platform Bitget, saying it served Thai customers without a licence from 2022 to 2025, CoinDesk reported on 6 November. The regulator has asked the government to block Bitget's website and app from 5 December.
Here's what happened. Thailand's Securities and Exchange Commission has filed a criminal complaint against BG Limited, which operates Bitget, CoinDesk reported. The regulator says the company ran an unlicensed crypto exchange for Thai users between 2022 and 2025.
According to the SEC, Bitget charged trading fees and courted Thai customers through a Thai-language website showing prices in baht, plus social media channels. The case has gone to the police, and the regulator has asked for Bitget's website and app to be blocked from 5 Dec. It told users to plan for any assets left on the platform before then.
Put it in context. Bitget is trying to buy GMO-Z, a licensed Thai exchange and broker, through a Bitget-linked company. That would give it a legal way into the country. The seller, GMO Internet, pushed the share transfer back from 31 October to 30 November, citing work on regulatory approvals.
The SEC has not said whether the complaint could affect the deal, CoinDesk said. Bitget's own terms, updated in October, already list Thailand as a banned country.
Thailand has taken similar action before against offshore exchanges, including Bybit and OKX.
Where this comes from
Written with AI from the sources above and checked against them before publishing. Here's how we work. This is news, not financial advice. Spotted a mistake? Tell us.
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