Bitget Faces December Ban in Thailand for Operating Without Proper Licensing
Thai securities authorities have lodged criminal charges against Bitget's operating entity, with the platform's website and mobile application scheduled for blocking starting Dec. 5.
BG Limited, the company behind cryptocurrency exchange Bitget, is facing criminal charges from Thailand's securities watchdog for purportedly conducting operations in the country without obtaining the necessary licensing.
In a Thursday announcement, Thailand's Securities and Exchange Commission (SEC) revealed it has requested the Ministry of Digital Economy and Society to implement blocking measures against Bitget starting Dec. 5. The blocking action will encompass the Bitget website, related domain addresses, and the platform's mobile application.
The regulatory body has issued recommendations for platform users to make necessary arrangements concerning their digital assets stored on Bitget prior to the enforcement date.
Thai authorities submitted the formal complaint to the nation's Economic Crime Suppression Division for a thorough investigation. The prosecutorial office will make determinations on whether formal charges should proceed, with judicial courts ultimately deciding on criminal responsibility.
Under a 2025 decree designed to safeguard investors and fight against financial criminal activity, Thailand's Ministry of Digital Economy and Society possesses the legal authority to block access to cryptocurrency trading platforms that lack proper licensing.
When contacted by Cointelegraph for a statement, Bitget had not provided an immediate response.