Thailand: Securities and Exchange Commission Board ordered KuCoin Thailand to rectify capital maintenance deficiency

On 5 February 2026, the Securities and Exchange Commission Board of Thailand resolved, under Section 35(1) of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018), to order ERX Co., Ltd. (operating as KuCoin Thailand) to rectify its capital maintenance deficiency by 12 February 2026. The decision follows the company’s continued inability to restore its capital adequacy after the earlier suspension of operations. The SEC Board required ERX to ensure compliance with the capital maintenance requirements within the stated deadline and to submit progress reports to the SEC. In addition, the Board instructed ERX to rectify its board governance structure, including presenting a plan to appoint new directors to replace those who had resigned in order to meet regulatory requirements. The SEC noted that failure to comply may affect the company’s ability to resume normal operations.