The SEC’s probe found that Bitazza Global and Bitazza (a licensed digital asset broker) had provided a platform for the trading or exchange of digital assets and collected fees for such services. The firms also promoted and solicited the public in the Thai language to use the Bitazza Global’s services through Bitazza’s social media channels on 25 May 2023, offering services exclusively to clients residing in Thailand and referring to Thai government agencies in the terms and conditions of services between Bitazza Global and its clients. In addition, Bitazza enabled public access to Bitazza Global through Bitazza’s website and application. Users registering for the service were effectively treated as Bitazza Global account holders without undergoing a separate identity verification process. Bitazza also provided core operational systems to Bitazza Global.

The actions of Bitazza Global and Bitazza constitute the joint operation of a digital asset exchange business without a license under Section 3 of the Emergency Decree, in violation of Section 26 of the Emergency Decree, and are subject to penalties under Section 66 of the Emergency Decree, in conjunction with Section 83 of the Criminal Code.

Mr. Kavin and Mr. Tanawat, as the persons responsible for Bitazza’s operations at the time
of the incident, are therefore liable in the same manner as Bitazza under Section 94 in conjunction with Section 66 of the Emergency Decree, and Section 83 of the Criminal Code. Accordingly, the SEC has filed criminal complaints with ECD against Bitazza Global, Bitazza, Mr. Kavin, and Mr. Tanawat for further legal action.

Following the filing of the criminal complaints by the SEC, the criminal enforcement process will proceed with an investigation by the inquiry official, prosecution by the public prosecutor, and adjudication by the court of justice, respectively. In this regard, the SEC will monitor the progress of the legal proceedings and cooperate fully with relevant agencies to support legal enforcement under the Emergency Decree after the criminal complaint has been filed. 

In addition, the SEC has submitted information regarding the Bitazza Global platform (https://bitazza.com/) to the Ministry of Digital Economy and Society (MDES) for the purpose of blocking access to the platform. This action is in accordance with the Royal Decree on Measures for Preventing and Suppressing Technology‑Related Crimes (No. 2) B.E. 2568 (2025), which authorizes the MDES to order the blocking of unlicensed digital asset trading platforms to protect investors and prevent the use of unlicensed digital asset trading platforms for money laundering activities. As a result, public access to the Bitazza Global platform will be disabled starting from 22 March 2026.

The SEC therefore advises investors who are currently using the platform to take appropriate actions regarding their assets held on the platform before the access‑blocking measures take effect. The public and investors should exercise caution when using services from unlicensed digital asset businesses, as they are not protected under the law and may be exposed to risks of fraud and scams, as well as potential misuse of funds for money laundering activities. Investors can verify the list of digital asset business licensees on the SEC’s website at https://www.sec.or.th and via the SEC Check First application. Additionally, the list of individuals or entities not regulated by the SEC is available at the Investor Alert section on the SEC’s website: https://market.sec.or.th/public/idisc/th/InvestorAlert. 

To report any information regarding suspicious activities, please contact the SEC Complaint Center via Hotline 1207, the SEC’s official Facebook page “สำนักงาน กลต.”, or the SEC Live Chat on the SEC website.