Thailand's SEC moves to ban Bitget amid licensing violations

Legal Action Against Bitget

The Thai Securities and Exchange Commission (SEC) has taken legal action against BG Limited, the company behind the cryptocurrency platform Bitget, citing operations without the necessary licensing. As a result, the SEC has directed the Ministry of Digital Economy and Society to initiate a ban on access to Bitget’s services, which will take effect on December 5.

Impact of the Ban

This ban will encompass both the website and mobile application associated with Bitget, thereby limiting users' ability to access their accounts or conduct transactions. The SEC is urging users to withdraw and manage any assets they have on the platform before the cutoff date.

Allegations Against Bitget

From 2022 to 2025, Bitget allegedly engaged in various activities related to crypto trading, which included charging fees and marketing its services in the Thai language through multiple online platforms, thereby breaching regulatory demands for a digital asset business license.

Regulatory Response

In response to these violations, the SEC has lodged a complaint with the Economic Crime Suppression Division. The outcomes will rest with prosecutors who will evaluate the potential for charges, while the courts will ultimately interpret the legality of the actions taken by Bitget.

Government Decree and Investor Protection

This measure is in line with a 2025 government decree that empowers the Ministry of Digital Economy and Society to impose restrictions on unlicensed cryptocurrency trading platforms in an effort to safeguard investors and mitigate risks associated with financial crimes. Bitget has not yet commented on these developments, as per Cointelegraph’s inquiry.

Conclusion

This situation highlights the increasing regulatory scrutiny on cryptocurrency exchanges in Thailand and the broader push for compliance within the digital asset space.