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KuCoin cuts off users in Russia and Belarus, following MEXC and Bitget out of the sanctioned markets
⚪NeutralA compliance-driven exit from two sanctioned markets shrinks KuCoin's reach but does not directly affect any particular coin.News sentiment, not financial advice. It reflects the likely impact of this news, not a price prediction.
Summary
KuCoin said on Oct. 29 that it is immediately ending all products and services for users in Russia and Belarus, citing legal and regulatory compliance, CoinDesk and Cointelegraph reported.
The exchange said customers will be told the deadlines for closing positions and withdrawing funds, which Cointelegraph described as an "orderly exit process"; CoinDesk said KuCoin did not say how many users are affected or name a specific sanction or rule behind the move.
The decision follows similar restrictions announced this month by MEXC and Bitget, according to CoinDesk, as Western sanctions over the war in Ukraine continue to limit financial activity in both countries.
Key facts
- MEXC said it would stop serving users in Russia and Belarus on Oct. 20, CoinDesk reported.
- "Compliance is at the core of our operations and guides our decisions on where and how we offer our services," KuCoin said in an X post, per Cointelegraph.
- KuCoin is headquartered in the Seychelles, Cointelegraph reported.
- CoinDesk noted that KuCoin agreed in January 2025 to pay nearly $300 million after pleading guilty to operating an unlicensed money-transmitting business in the U.S.
- Separately, Russia's central bank approved NAUFOR as a self-regulatory body for crypto exchanges and custodians; its registry includes 23 crypto exchanges and eight custody institutions, Cointelegraph reported.