Thailand’s Securities and Exchange Commission has filed a criminal complaint against BG Limited, the operator of Bitget, CoinDesk reported. The regulator alleges the company offered crypto trading services in Thailand without a license from 2022 to 2025. These are the SEC’s allegations, and Bitget has not been reported to have responded.
According to CoinDesk, the SEC said Bitget charged trading fees and targeted Thai customers through a Thai-language website that displayed prices in baht, along with associated social media channels. The commission referred the case to police and asked the government to block Bitget’s website and app starting December 5. It also urged users to make plans for assets held on the platform before then.
Bitget’s terms of use, last updated in October, already list Thailand as a country where its services are prohibited, CoinDesk noted.
The case lands in the middle of a separate deal. Bitget is seeking approval to acquire GMO-Z, a licensed Thai crypto exchange and brokerage, through BTGT Management (Thailand), a Bitget-linked company. Seller GMO Internet delayed the share transfer from October 31 to November 30, citing work tied to regulatory approvals. The SEC has not said whether the complaint could affect the transaction.
CoinDesk pointed out that Thailand has taken similar action against offshore exchanges Bybit and OKX. Bitget, GMO Internet and the SEC did not respond to CoinDesk’s requests for comment.
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