Thailand’s Securities and Exchange Commission (SEC) has instructed ERX Co., Ltd., operating as KuCoin Thailand, to communicate clearly with clients and provide support following the firm’s temporary suspension of digital asset business operations after it failed to maintain the minimum ongoing capital funds required under SEC rules. The SEC’s monitoring found ERX’s capital funds were below the regulatory minimum from 29 December 2025 to 2 January 2026, with a shortfall of more than 60 percent for five consecutive days. Under the applicable requirements for a digital asset exchange, ERX must suspend all digital asset business operations until the required capital level is restored and notify clients in writing without delay; it must also obtain SEC approval before resuming normal operations once the capital requirement is met. The SEC additionally instructed the firm to facilitate client asset withdrawals for those who wish to do so, with further updates to be provided through official channels.

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