This is in reference to the news reports that the Singapore Police Force (SPF) and the Monetary Authority of Singapore (MAS) conducted an operation against Capital Asia Investment (CAI), resulting in the arrest of two directors of CAI and the seizure of CAI’s assets for alleged money-laundering offences.

The SEC has found that ERX (operating under the trade name ‘KuCoin Thailand’), which provides digital asset exchange services, has Cryptosphere and ROE as its major shareholders in accordance with the applicable regulations*. In addition, one of CAI’s directors serves as a director of both Cryptosphere and ROE.”

The SEC has therefore instructed ERX to clarify the facts regarding the presence of a director serving on the boards of the two aforementioned companies, which are its major shareholders and 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 is required to provide such clarification together with all relevant information and supporting documents to the SEC within 7 days (due on 19 March 2026).

Note:

* Determination of requirements for digital asset business operators to obtain approval for individuals who qualify as major shareholders (Codified)

https://publish.sec.or.th/nrs/8223s.pdf