Thai SEC to block access to Bitget crypto exchange on December 5 over unlicensed trading

The Thai Securities and Exchange Commission (SEC) is moving to block local access to the cryptocurrency exchange Bitget starting December 5.

According to a November 5 report from the Thai-language business news outlet Thansettakij, the SEC is taking legal action against the platform for operating a digital asset business without the required licenses. As part of this enforcement, authorities plan to restrict internet access to the exchange from within Thailand.

This action aligns with a broader pattern of Thai regulators cracking down on offshore and unlicensed cryptocurrency platforms. The goal is to bring all digital asset trading under local regulatory oversight, ensuring platforms comply with Thailand's anti-money laundering and investor protection rules.

What this means for you

If you are an expat residing in Thailand who uses Bitget to trade or hold cryptocurrencies, you have a limited window to act before the December 5 deadline.

To avoid losing access to your assets, consider taking the following steps:

• Audit your accounts: Check if you hold any cryptocurrency or fiat balances on the Bitget platform.
• Transfer your assets: Move your funds to a personal self-custody wallet or a cryptocurrency exchange that is officially licensed by the Thai SEC before the block takes effect.
• Prepare for network blocks: While virtual private networks (VPNs) can sometimes bypass local internet service provider blocks, relying on them to access financial platforms carries significant compliance and security risks.

Thailand maintains a public registry of licensed digital asset operators. Expats looking to trade crypto locally should verify their chosen platform holds a valid license from the Thai SEC to ensure uninterrupted access and regulatory protection.