Thailand: Securities and Exchange Commission directed KuCoin Thailand to suspend digital asset operations for failure to meet minimum capital requirement

On 3 January 2026, the Securities and Exchange Commission of Thailand (SEC) announced that ERX Co., Ltd., operating under the trade name KuCoin Thailand, temporarily suspended all digital asset business operations after failing to maintain the minimum ongoing capital requirement under applicable rules. The SEC found that the company’s capital fell more than 60% below the regulatory minimum for 5 consecutive days between 29 December 2025 and 2 January 2026. Under the relevant regulations, ERX Co., Ltd., as a digital asset exchange, is required to suspend operations until capital adequacy is restored and to notify clients in writing without delay regarding the suspension. The SEC further instructed the company to communicate clearly with clients and facilitate withdrawals of assets for those who wish to do so. Business activities may resume only once the capital requirement is met and the SEC grants approval.