Thailand's Securities and Exchange Commission filed a criminal complaint Thursday against BG Limited, the operator of Bitget, alleging the exchange ran an unlicensed digital-asset business serving Thai users from 2022 to 2025.

The regulator says the case now moves to an inquiry official, then prosecutors and the courts.

It is unusual for a regulator to pursue criminal charges against an exchange of Bitget's global size rather than simply issue an investor alert.

Thailand has used access blocks before — Bybit, OKX, CoinEx and two other platforms were cut off on June 28, 2025 — but the Bitget action adds a police referral against the operator and a named local promoter, a step beyond the earlier template.

It signals Bangkok is willing to escalate from blocking websites to prosecuting individuals tied to unlicensed platforms.

According to the SEC, Bitget offered a trading system in the ordinary course of business, charged fees, and ran a Thai-language website displaying prices in baht.

It also solicited Thai users through social channels including "Bitget Thailand" on X, "BGB Thai Holder" on Telegram and "bitgetthailand" on TikTok.

The regulator says that conduct constitutes operating a digital-asset exchange under Section 3 of the 2018 Emergency Decree on Digital Asset Businesses without a license — a violation of Section 26 punishable under Section 66.

From December 5, the public "will be unable to access the platform," the statement said, and Thai users still holding assets on Bitget were told to consider acting before the cutoff.

CoinCodex reports the restriction covers the main website, related domains and the mobile application, echoing the June 2025 blocks of Bybit and OKX.

The enforcement lands weeks after Bitget announced a planned acquisition of gmo-z.com Cryptonomics (Thailand), a licensed Bangkok exchange, through its interest in BTGT Management (Thailand) Ltd. Bitget CEO Gracy Chen said the deal gives the company "a great opportunity to establish local operations."

But Bitcoin Magazine reports GMO Internet pushed the share-transfer effective date from October 31 to November 30 — five days before the block — and the SEC has not said whether the criminal complaint will affect the change-of-control approval.

CoinDesk noted Bitget's updated terms already list Thailand as a prohibited jurisdiction.