The Thailand Securities and Exchange Commission has instructed ERX Co., Ltd. (operating as KuCoin Thailand) to clarify facts about the directors of its major shareholders, Cryptosphere Ventures Co., Ltd. and ROE Co., Ltd., after news reports linked a director of Capital Asia Investment to those companies. ERX must submit the clarification with supporting documents within seven days. The instruction follows reports that the Singapore Police Force and the Monetary Authority of Singapore conducted an operation against Capital Asia Investment, arresting two directors and seizing assets for alleged money-laundering offences. The SEC noted that Cryptosphere and ROE are ERX’s major shareholders under applicable regulations, and that one of Capital Asia Investment’s directors also serves as a director of both shareholders, whose directors must not possess any prohibited characteristics under Clause 5 of the ministerial regulation issued pursuant to Section 27 of the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018). ERX’s submission is due on 19 March 2026.
Thailand Securities & Exchange Commission 2026-03-12
Thailand Securities and Exchange Commission orders ERX KuCoin Thailand to clarify whether major shareholder directors have prohibited characteristics
The Thailand Securities and Exchange Commission has directed ERX Co., Ltd. (KuCoin Thailand) to clarify the involvement of directors from its major shareholders, Cryptosphere Ventures Co., Ltd. and ROE Co., Ltd., following reports of a director's link to Capital Asia Investment. This follows a Singapore operation against Capital Asia Investment for alleged money laundering. ERX must ensure its directors comply with regulations under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018).