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Thai SEC Takes Action Against Bitget, VCEX and Coins TH

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Thai SEC Takes Action Against Bitget, VCEX and Coins TH

Thailand’s Securities and Exchange Commission (SEC) is tightening its oversight of crypto operators, moving against Bitget, VCEX and Coins TH over licensing and compliance issues.

The SEC filed a criminal complaint against BG Limited, the operator of Bitget, for allegedly running a digital asset exchange without a licence.

The regulator found that Bitget offered trading services between 2022 and 2025 through a Thai-language website displaying values in Thai baht.

The complaint named Kritsana Kritsananuwat for allegedly helping market Bitget through Facebook and YouTube.

The SEC referred the case to the Economic Crime Suppression Division for investigation.

Thailand’s Ministry of Digital Economy and Society is set to block access to Bitget from 5 December 2026, with investors advised to consider taking action regarding their assets before the deadline.

The regulator has separately moved to block VCEX, an unlicensed crypto platform operated by Assure Technology Co., Ltd.

The restriction was scheduled for 7 November 2026, with investors urged to withdraw or transfer their assets beforehand.

Coins TH faces a separate order to address shortcomings in its management structure, operating systems and financial reporting.

An inspection uncovered unapproved shareholders, too few directors and no audit committee, alongside problems with IT systems, customer asset protection, data management and outsourced operations.

The company had failed to submit its financial statements for 2024 and 2025.

Coins TH must resolve these issues, submit and publish the outstanding statements, and report the changes to the SEC by 8 December 2026.

The regulator warned that unlicensed crypto platforms do not offer the same legal protections as licensed operators.


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