McCoist said in a statement on Thursday that the threats made against the Scottish FA's three-man panel, whose names were revealed on the internet, damaged the club.
The SFA have said Strathclyde police were investigating threats made to its members.
"I would not for one moment want anyone to interpret my remarks as a signal to engage in any form of threatening behaviour," McCoist said.
"Such activity disgusts me and anyone who engages in it does Rangers Football Club nothing but harm. No Rangers supporter should get themselves involved in it, not now nor at any time."
Rangers, who went into administration in February with debts of nine million pounds in unpaid taxes, were handed a 12-month transfer embargo on Tuesday and hit with a 160,000 poundsfine for various rule breaches.
Owner Craig Whyte has received a life-time ban from football after being found guilty of bringing the game into disrepute.
Administrators working to find a buyer for the club, who have won 54 Scottish titles, criticised the transfer embargo while McCoist on Tuesday called for those who made the decision to be identified.
He maintained that stance on Thursday.
"I firmly believe that decisions of this magnitude should be fully transparent and everyone should have confidence in the system that has been created to deliver such a finding," McCoist said.
"When I called for full transparency on Tuesday I took the view that the decision by the judicial panel should be subject to proper scrutiny.
"It is unthinkable in any walk of life that such a significant punishment would be meted out without full transparency."
Rangers have appealed against the transfer embargo, with administrators Duff and Phelps saying the decision had hindered efforts to save the club.
