Thailand SEC Files Criminal Complaint Against Bitazza and FreedomVerse, March 2026

The Securities and Exchange Commission of Thailand (Thailand SEC) filed a criminal complaint on March 24, 2026, against Bitazza Co., Ltd. and FreedomVerse (Thailand) Co., Ltd., along with their executives and related persons. The complaint was filed with the Department of Special Investigation (DSI), which is Thailand's equivalent of a specialist financial crimes prosecution unit. The Thailand SEC News announcement designated this as Official News No. 61/2026. The complaint alleges violations of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (the Digital Asset Businesses Act). The enforcement action is at the criminal complaint stage and proceedings before the DSI are ongoing.

The controlling statute is the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). The Decree requires digital asset exchange operators, brokers, and dealers to hold a licence from the Thailand SEC. Operating without a licence, or using fraudulent means to solicit investments in digital assets, constitutes a criminal offence under the Decree punishable by imprisonment and fines. The Thailand SEC's authority to file criminal complaints directly with the DSI derives from Section 91 of the Digital Asset Businesses Act, which empowers the SEC to initiate criminal prosecution where it finds evidence of violation of the Decree's licensing, operational conduct, or investor protection provisions.

Digital asset exchanges and investment platforms operating in Thailand or soliciting Thai investors without SEC licences face criminal liability for executives and the entity itself. Investors who placed funds with Bitazza or FreedomVerse should be aware that recovery of assets depends on ongoing DSI proceedings and any insolvency or asset-freezing orders that may result. Businesses structured in Thailand and those serving Thai clients through cross-border arrangements must assess whether their operations trigger licensing obligations under the Digital Asset Businesses Act to avoid equivalent exposure.

The DSI proceedings are at the complaint stage; no indictment, conviction, or final order has yet been issued as of March 31, 2026. Separate civil or administrative proceedings by the Thailand SEC against the same entities are not excluded by the criminal referral. Creditors and investors with claims against Bitazza or FreedomVerse should monitor DSI announcements for asset preservation orders that could affect the availability of funds for recovery.

Our firm advises digital asset operators, investors, and creditors on enforcement proceedings and regulatory licensing under the Thailand SEC Digital Asset Businesses Act and equivalent regimes across Southeast Asia. We maintain a dedicated partner network of Thai-licensed lawyers and regional crypto regulatory specialists who handle SEC investigations, DSI complaint responses, and asset recovery proceedings. Contact us to assess licensing obligations for Thailand or to discuss claims against digital asset platforms under investigation. Work we handle includes Thailand SEC licence applications, defence and advisory in DSI complaint proceedings, cross-border asset recovery for digital asset investors, and ASEAN crypto regulatory compliance programmes.

Source: Securities and Exchange Commission of Thailand, Official News No. 61/2026, March 24, 2026 — SEC files criminal complaint against Bitazza Co., Ltd. and FreedomVerse (Thailand) Co., Ltd. with the Department of Special Investigation. Official URL: https://www.sec.or.th (news listing, March 24, 2026). Confirmed March 31, 2026.

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