The Thai Securities and Exchange Commission has filed a criminal complaint against BG Limited, the operator of the Bitget cryptocurrency exchange. Regulators allege the company provided unlicensed digital asset services to Thai users between 2022 and 2025.
The SEC reported that the platform operated a trading system, collected fees, maintained a Thai-language website, and promoted services via social media channels. The complaint also names Kritsana Kritsananuwat, who allegedly supported the platform's promotion on Facebook and YouTube.
Authorities have notified the Ministry of Digital Economy and Society to block access to the platform starting December 5. Investors currently holding assets on the exchange have been advised to take action before the cutoff date.
The enforcement action occurs while Bitget is attempting to acquire the licensed Thai exchange GMO-Z.com Cryptonomics. The share transfer, originally scheduled for October 31, was postponed to November 30 due to regulatory procedures.
It remains uncertain how the criminal complaint will affect the pending acquisition. The SEC has not disclosed whether the legal proceedings against BG Limited will impact the approval process for the change of control at GMO-Z.
