KuCoin Joins MEXC and Bitget in Halting Crypto Services in Russia

TLDR

• KuCoin stopped all services for users in Russia and Belarus on Oct. 29, effective immediately.
• Affected users will get individual notices with deadlines to close positions and withdraw assets.
• KuCoin cited legal and regulatory requirements but did not name a specific order.
• MEXC and Bitget announced similar restrictions for the same countries earlier in October.
• The EU’s 21st sanctions package in July expanded restrictions on crypto platforms linked to Russia.

Crypto exchange KuCoin has ended its services for users in Russia and Belarus. The change took effect immediately, according to an announcement dated Oct. 29.

The exit covers all KuCoin products, services, and features in both countries. The exchange said it will run an orderly process so users can close positions and withdraw their assets.

KuCoin did not publish a single withdrawal deadline. It also did not say how many accounts are affected or how much those users hold.

KuCoin Sends Individual Notices to Users

Affected customers will receive account notifications with their own deadlines and instructions. Users who have not received a notice do not need to take any action, the exchange said.

Those accounts still remain subject to KuCoin’s terms of use and any applicable restrictions. Customers with questions about their account status were directed to customer support.

KuCoin also warned users to communicate only through official channels because of phishing risks.

The exchange said the move follows applicable legal and regulatory requirements. It did not name a sanctions designation, licensing condition, or regulator’s instruction as the cause.

MEXC and Bitget Made Similar Moves in October

KuCoin is not the first exchange to leave these markets this month. On Oct. 20, MEXC said it would end services in Russia and Belarus as part of its global compliance efforts.

MEXC said affected users would get individual notices on how and when to withdraw. It added that customer assets were safe and that staff would never ask for payments, credentials, or seed phrases through private messages.

Bitget updated its terms on Oct. 16 to list Russia and Belarus as prohibited jurisdictions. In an Oct. 17 statement, it called the account closures “a one-off exercise for certain users only.”

Bitget said its platform would keep operating. Affected users would receive their own deadlines and instructions.

The exits follow new European measures. On July 23, the Council of the European Union adopted its 21st sanctions package, extending transaction bans to 14 crypto-related platforms based in Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan, and Belarus.

The package also created the option of a full ban on crypto services from third countries that help Russia avoid EU sanctions. KuCoin’s notice does not cite this package as the reason for its exit.

KuCoin has left a major market before. In January 2025, its operating company, Peken Global Limited, pleaded guilty in the US to running an unlicensed money-transmitting business.

Peken agreed to pay more than $297 million and to pull KuCoin out of the US market for at least two years. Co-founders Chun Gan and Ke Tang agreed to step away from managing the exchange.

For now, KuCoin users in Russia and Belarus should watch for account notices with their deadlines. The exchange has asked all customers to rely only on its official channels for updates.

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