The SEC said its investigation covered activity from 2022 to 2025, including digital-asset transactions, trading fees and services aimed at Thai customers. It cited a Thai-language site displaying cryptocurrency prices in baht, along with promotional accounts on X, Telegram and TikTok. The regulator said the services amounted to operating a digital-asset exchange under Section 3 of the 2018 Emergency Decree on Digital Asset Businesses and alleged a violation of Section 26, an offense covered by Section 66.
The complaint also names Kritsana Kritsananuwat, accused of helping promote Bitget through the Facebook page “Srisiam” and YouTube channel “SRISIAM.” The SEC referred the complaint to the Economic Crime Suppression Division and said the allegations do not establish criminal liability. Investigators will examine the case before prosecutors decide whether to bring charges; courts would determine any violation.
The planned access restrictions fall under Thailand’s 2025 Royal Decree on Measures for Preventing and Suppressing Technology-Related Crimes. The SEC said they aim to protect investors and prevent unlicensed platforms from being used for money laundering or other financial crimes. Customers with assets on Bitget have been advised to review their accounts and take appropriate steps before the deadline. The announcement did not specify automatic liquidation or require customers to sell their holdings.
The action is separate from Bitget’s October plan to acquire GMO-Z.com Cryptonomics (Thailand), operator of the licensed Z.com EX platform, through BTGT Management. The proposed deal involved a 99.94% combined stake held by GMO Internet and its Thai subsidiary and remains subject to regulatory approval and other conditions. Bitget CEO Gracy Chen previously said the acquisition could establish local operations. The SEC’s announcement was dated November 5; Bitget had not responded to a request for comment by publication time.
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