Polymarket · Russia · Ukraine · CoinDesk
KuCoin exits Russia and Belarus as crypto exchanges withdraw from Western-sanctioned markets
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
★ Tier-1 Source
Cryptocurrency exchange KuCoin is ending all services for customers in Russia and Belarus, joining other trading platforms withdrawing from the two countries as Western sanctions continue to restrict financial activity.
Key facts
- In July of this year, the EU targeted a $120 billion crypto network known as A7
- Since Russia invaded Ukraine in February 2022, Western governments have imposed sanctions targeting Russian financial institutions and transactions
- Binance left Russia in September 2023, selling its local operations to CommEX over compliance concerns
- The exchange joins rivals MEXC and Bitget, which also announced restrictions on Russian and Belarusian customers this month
Summary
KuCoin is immediately ending all services for customers in Russia and Belarus, citing legal and regulatory requirements. Customers will be notified of deadlines to close positions and withdraw funds. The move follows restrictions announced by MEXC and Bitget this month as Western sanctions continue to constrain financial activity in the two countries. In a Thursday statement, KuCoin cited compliance with legal and regulatory requirements, without identifying any specific sanctions or regulations behind the decision.