The board of Thailand's Securities and Exchange Commission (SEC) has ordered Coins TH Company Limited (Coins TH) to correct deficiencies in governance and personnel, operating systems and financial reporting. The company must complete the corrective measures and report to the SEC by 8 December 2026. Governance deficiencies included unapproved shareholders, a board whose membership did not meet regulatory requirements and the absence of an audit committee, resulting in ineffective operational checks and balances. Coins TH must apply for approval of its major shareholders, appoint directors to replace those who resigned and establish an audit committee chaired by an independent director. It must also demonstrate effective checks and balances and maintain sufficient qualified personnel. The company must bring its information technology systems, client asset safekeeping system and outsourcing arrangements into compliance. It must correct its data management and storage systems and submit complete, accurate and current daily and monthly electronic reporting data. Coins TH must also submit its overdue financial statements for the 2024 and 2025 accounting periods and publish them on its website.

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