CoinDesk
KuCoin is immediately ending all products and services for customers in Russia and Belarus, citing legal and regulatory requirements. The exchange says customers will be notified of deadlines to close positions and withdraw funds, but has not disclosed how many users will be affected.
Why it matters
The decision follows similar restrictions announced this month by MEXC and Bitget. MEXC said it would stop serving users in both countries on Oct. 20, while KuCoin did not specify a deadline for its customers in the announcement.
Western governments have imposed sanctions on Russian financial institutions and transactions since Russia’s invasion of Ukraine in February 2022. Some restrictions have also targeted crypto exchanges outside the European Union that allegedly helped sanctioned entities move funds. The EU introduced crypto-related sanctions in 2022 and targeted the $120 billion A7 crypto network in July of this year.
Market impact
KuCoin’s exit extends a broader pullback by platforms seeking to manage legal and sanctions exposure. Binance left Russia in September 2023, selling its local operations to CommEX, which shut down six months later.
KuCoin has also faced enforcement action in the United States. In January 2025, it agreed to pay nearly $300 million after pleading guilty to operating an unlicensed money-transmitting business. In March this year, the Commodity Futures Trading Commission barred its operator from serving U.S. customers unless it registers as a foreign board of trade. Customers in Russia and Belarus now face a separate transition process to close positions and withdraw funds.
Frequently asked questions
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What happens to KuCoin customers in Russia and Belarus?
KuCoin says customers will be notified of deadlines to close positions and withdraw funds. The exchange has not disclosed how many users are affected.
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Why is KuCoin ending services in the two countries?
KuCoin cited legal and regulatory requirements but did not identify specific sanctions or regulations behind the decision.
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Which other exchanges have announced similar restrictions?
MEXC and Bitget announced restrictions on Russian and Belarusian customers this month. MEXC said its service would end on Oct. 20.
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How have Western sanctions affected crypto activity?
Sanctions imposed since Russia's invasion of Ukraine in February 2022 have constrained financial activity. Some measures target crypto exchanges outside the EU that allegedly helped sanctioned entities move funds.
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What prior U.S. regulatory actions has KuCoin faced?
In January 2025, KuCoin agreed to pay nearly $300 million after pleading guilty to operating an unlicensed money-transmitting business. In March this year, the CFTC barred its operator from serving U.S. customers unless it registers as a foreign board of trade.
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