The Thailand Securities and Exchange Commission has ordered ERX Co., Ltd. (operating as “KuCoin Thailand”) to bring its operations into compliance with capital maintenance requirements by 12 February 2026, after finding it remains unable to resolve its capital maintenance deficiency. The decision was taken by the SEC Board under Section 35(1) of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). The SEC noted it had previously ordered ERX to suspend business operations for failing to maintain the required capital fund, and to notify clients and facilitate withdrawals of clients’ assets. ERX must now report remediation progress to the SEC and also address its board governance structure, including presenting at least a plan to appoint new directors to replace those who have resigned to meet applicable regulatory requirements. ERX’s deadline to rectify the capital maintenance deficiency is 12 February 2026.
Thailand Securities & Exchange Commission 2026-02-05
Thailand Securities and Exchange Commission orders ERX KuCoin Thailand to rectify its capital maintenance deficiency by 12 February 2026
The Thailand Securities and Exchange Commission has mandated ERX Co., Ltd. (KuCoin Thailand) to comply with capital maintenance requirements by 12 February 2026, following its failure to resolve a capital deficiency. The SEC also requires ERX to report remediation progress and address board governance issues, including appointing new directors.