The Thailand Securities and Exchange Commission announced that the Minister of Finance, acting on the recommendation of the SEC Board, revoked Coindee Company Limited’s licence to operate a digital asset advisory business for cryptocurrencies and digital tokens, effective 27 October 2025. The action followed findings that Coindee had ceased business operations beyond the period specified by the SEC Board and could no longer provide services or be contacted by customers or investors. The SEC cited governance and operational breakdowns, including the resignation of five directors, managers and executives effective 28 February 2025, leaving the company with only one director, two employees and no manager responsible for operations. The SEC later found the firm’s website inaccessible, its social media inactive, and its registered email and telephone unreachable. The SEC Board resolved on 5 June 2025 to recommend licence revocation under the Capital Market Supervisory Board notification on cessation of licensed operations (KorThor. 9/2564), and the Minister revoked the licence under Section 34 of the Emergency Decree on Digital Asset Businesses and ordered Coindee to return the licence within 15 days.

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