Following the fact that Coindee, which had been licensed to operate a digital asset business as an advisor for cryptocurrency and digital tokens under the Emergency Decree on Digital Asset Businesses B.E. 2561 (2018) (the Emergency Decree on Digital Asset Businesses), ceased its business operations beyond the period specified by the SEC Board, facts came to the attention of the SEC that directors, managers, or persons responsible for operations were not in a position to manage the business, resulting in the inability to conduct business as licensed, and there were no channels for contacting or providing services to customers or investors, which significantly impacted service provision. On 31 January 2025 and 27 February 2025, the company notified the SEC that five directors, managers, and executives had resigned and ceased their duties effective 28 February 2025, leaving the company with only one director, two employees, and no manager responsible for operations. Subsequently, on 18 March 2025, the SEC discovered that the company's website was inaccessible, there was no activity on its social media channels, and the company could not be reached via email or telephone as previously registered.

At its meeting on 5 June 2025, the SEC Board considered and found that Coindee had ceased business operations beyond the period specified by the SEC Board, under Clause 2(2) in conjunction with Clause 3(2) and (3) of the Notification of the Capital Market Supervisory Board No. KorThor. 9/2564 Re: Determination of the Period of Cessation of Licensed Business Operations as Grounds for Revocation of Digital Asset Business Operator's License, dated 8 April 2021 (Notification No. KorThor. 9/2564), and therefore resolved to recommend to the Minister of Finance to consider revoking Coindee’s digital asset advisory service license for cryptocurrency and digital tokens. 

The Minister of Finance, upon the SEC Board’s recommendation, viewed that Coindee had ceased business operations beyond the period specified by the SEC Board under Clause 2(2) in conjunction with Clause 3(2) and (3) of Notification No. KorThor. 9/2564, and therefore, by virtue of Section 34 of the Emergency Decree on Digital Asset Businesses, revoked Coindee's digital asset advisory license for cryptocurrency and digital tokens, effective 27 October 2025, and ordered the company to return the license within 15 days from 25 November 2025.

For inquiries, Coindee clients may contact the SEC Help Center via Hotline 1207, or through the official SEC Facebook page, or SEC Live Chat on the SEC website, or email info@sec.or.th.