Thailand's regulatory landscape for cryptocurrency is tightening as the SEC takes action against Bitget, a prominent digital asset exchange. As stated in the official source, the move highlights the ongoing scrutiny of crypto operations in the country and the importance of compliance with local laws.
SEC of Thailand Files Criminal Complaint Against Bitget
The Securities and Exchange Commission (SEC) of Thailand has lodged a criminal complaint against BG Limited, the operator of the cryptocurrency exchange Bitget. The complaint alleges that Bitget conducted digital asset business without the necessary licensing, a serious violation of Thai regulations.
Allegations of Unauthorized Trading Services
According to the SEC's findings, Bitget provided trading services to Thai customers from 2022 to 2023 without the required authorization. This revelation has raised concerns about the exchange's compliance with local laws and the protection of investors. The complaint has been forwarded to the Economic Crime Suppression Division for further investigation. It is important to note that this action does not imply any established criminal guilt at this stage.
In a notable contrast to the tightening regulations in Thailand, Kraken has recently filed a motion to dismiss the SEC's claims against it, challenging the agency's jurisdiction over cryptocurrency exchanges. For more details, see read more.
