Thailand Orders Access Ban on Bitget Over Unlicensed Operations
Cryptocurrency exchange Bitget is facing an access ban in Thailand set for December 5, according to a report by CoinGape. Regulatory authorities in the country have moved against the platform following an investigation into years of unlicensed local promotional activities and operations.
According to the report published by CoinGape, financial watchdogs in Thailand have intensified scrutiny on digital asset service providers that fail to secure the necessary regulatory approvals while targeting domestic retail users. The upcoming access restriction reflects a broader compliance crackdown by Thai authorities aimed at curbing unauthorized crypto marketing and protecting local investors from unregistered trading platforms.
Bitget has faced increasing regulatory pressures in various jurisdictions as compliance standards for digital asset exchanges tighten globally. The enforcement action in Thailand highlights the growing risks for international cryptocurrency platforms operating without formal local registration or adherence to domestic financial laws.
The restriction means users in the jurisdiction may lose direct access to the platform unless appropriate licensing requirements are met. Representatives for the exchange have not yet issued a comprehensive public response regarding the specific operational adjustments or appeals following the regulatory directive.
Based on reporting by coingape.com.
