[CoinDesk] Thailand moves to block Bitget as crypto exchange's local acquisition faces uncertainty

Thailand’s Securities and Exchange Commission filed a criminal complaint against Bitget’s operator, accusing the exchange of running an unlicensed crypto business serving Thai users from 2022 to 2025. The move casts uncertainty over Bitget’s planned acquisition of a local Thai exchange, a deal meant to secure licensed market access. The complaint escalates regulatory pressure on offshore platforms operating in Thailand without local authorization. It matters because Thailand is a growing Southeast Asian crypto market, and the action signals tighter enforcement against exchanges serving residents without licenses. Watch whether the acquisition closes on schedule, how Bitget responds to the complaint, and whether Thai authorities extend similar scrutiny to other offshore platforms.