KuCoin has announced that it is immediately ending all services for users in Russia and Belarus. Affected customers will receive individual notifications explaining when they must close their positions and withdraw their assets.
The decision covers all products, services, and features available to users in both countries. KuCoin says it will follow an orderly process to close affected accounts and give customers time to withdraw their funds.
The exchange has not announced one common withdrawal deadline or disclosed how many accounts will be affected or the total value of customer assets involved.
Customers covered by the restrictions will receive account-specific instructions and deadlines. Users who have not received a notification do not need to take any action for now, although their accounts remain subject to KuCoin’s terms and applicable restrictions.
Anyone with questions about their account status is advised to contact KuCoin through its official customer support channels. The exchange has also warned users to be careful of phishing attempts and communicate only through verified channels.
KuCoin cited legal and regulatory requirements as the reason for its decision but did not identify a specific sanctions order, licensing issue, or regulator’s instruction behind the move.
MEXC and Bitget announced similar restrictions earlier in October
KuCoin is not the only exchange changing its services in these markets. On October 20, MEXC announced that it would end services for users in Russia and Belarus as part of its global compliance efforts.
MEXC said affected customers would receive individual notifications explaining how and when to close their positions and withdraw their assets. Users who had not received a notice could continue using the exchange under its terms of service.
The exchange also said customer assets remained safe and directed users to its support team for questions about account eligibility and withdrawals. It did not identify a specific regulatory order behind the decision.
MEXC warned customers that its representatives would never ask for payments, account passwords, seed phrases, or asset transfers through private messages. Users were advised to rely on its official website, app, announcement center, and verified social media accounts.
Bitget also updated its access rules earlier in October, adding Russia and Belarus to its list of prohibited jurisdictions. The revised terms were dated October 16.
In an October 17 statement, Bitget described the closures as a one-time process affecting certain users only and said the platform would continue operating. Affected customers would receive individual deadlines and instructions.
Bitget’s rules define restricted users as individuals or entities living, established, or operating in prohibited jurisdictions. Its announcement did not provide one withdrawal deadline for all affected accounts.
EU sanctions have increased pressure on crypto service providers
These changes come as the European Union continues expanding restrictions on cryptocurrency services linked to Russia and sanctions evasion.
On July 23, the EU Council adopted its 21st sanctions package, extending transaction bans to 14 crypto-related service platforms based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan, and Belarus.
The Council also introduced the possibility of a full ban on crypto-asset services involving third countries. The measure is intended to discourage countries from hosting platforms that help Russia avoid EU sanctions.
The new rules allow restrictions on transactions between EU operators and crypto providers used by Russia. The package also included four designations connected to the cross-border A7 network, including links to Africa.
Separate measures targeting Belarus were designed to bring its restrictions closer to those imposed on Russia, particularly in trade and legal protections. However, KuCoin did not directly connect its latest decision to the EU’s July sanctions package.
KuCoin has previously withdrawn from the US market
KuCoin has also faced regulatory action in the United States. In January 2025, its operating company, Peken Global Limited, pleaded guilty to operating an unlicensed money-transmitting business.
As part of the settlement, the company agreed to pay more than $297 million and withdraw KuCoin from the US market for at least two years.
US prosecutors said the exchange failed to maintain proper anti-money laundering and customer identification programs. They also said it had not registered with the Financial Crimes Enforcement Network or filed required suspicious activity reports.
The settlement included $184.5 million in criminal forfeiture and an additional criminal fine of approximately $112.9 million. KuCoin co-founders Chun Gan and Ke Tang also agreed to step away from the company’s management and operations.