KuCoin Ends Services in Russia and Belarus as Crypto Exchanges Pull Out

KuCoin said on Thursday that it is ending all products and services for customers in Russia and Belarus, effective immediately. The exchange pointed to legal and regulatory requirements but did not name any specific sanctions or rules. Affected users will be told the deadlines for closing positions and withdrawing funds, and KuCoin has not said how many customers are involved.

MEXC and Bitget Made Similar Moves This Month

KuCoin follows MEXC, which announced on Oct. 20 that it would stop serving users in both countries, and Bitget, which added Russia, Belarus and Kazakhstan to its list of prohibited regions in mid-October. MEXC is sending individual notices with separate withdrawal dates instead of one common deadline. It had already restricted some futures contracts for users in Russia, Ukraine, Armenia and Belarus in May.

Sanctions Pressure on Offshore Exchanges

Western governments have targeted Russian finance since the 2022 invasion of Ukraine, and some measures now reach crypto platforms accused of helping sanctioned entities move funds. In July the EU went after a $120 billion crypto network known as A7. Binance sold its Russian business in 2023, and the buyer, CommEX, shut down six months later. Russia also brought a licensed crypto framework into force on Sept. 1, 2026, covering trading, custody and some cross border settlements.

KuCoin’s Own Regulatory Record

KuCoin agreed in January 2025 to pay nearly $300 million after pleading guilty to running an unlicensed money transmitting business in the US. In March, the CFTC barred its operator from serving US customers unless it registers as a foreign board of trade.