Thailand Slaps Criminal Complaint on Bitget Over Unlicensed Crypto Operations

Thailand's Securities and Exchange Commission (SEC) has filed a criminal complaint against the operator of cryptocurrency exchange Bitget, accusing the platform of running an unlicensed digital asset exchange for Thai users from 2022 to 2025. The complaint, announced on [date], marks a significant escalation in the country's efforts to regulate crypto trading and protect investors.

The SEC alleges that Bitget's operator facilitated crypto trading without the necessary license from Thai authorities, violating local securities laws. This action comes as Bitget seeks to acquire a local licensed exchange, a move that now faces heightened scrutiny and potential delays. The SEC has not disclosed specific penalties but emphasized its commitment to enforcing compliance within the digital asset industry.

The criminal complaint could have broader implications for other offshore crypto exchanges operating in Thailand, signaling a tougher stance from regulators. Bitget has not publicly responded to the allegations, but the development may prompt the exchange to reassess its expansion strategy in Southeast Asia. Investors and users are advised to monitor the situation as regulatory pressures mount globally.