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KuCoin has ended services for users in Russia and Belarus, effective October 29, becoming the third major exchange to restrict the two countries this month after MEXC and Bitget. The exchange cited legal and regulatory requirements but named no specific sanctions order, and affected customers will get individual deadlines to close positions and withdraw assets.
KuCoin said the restrictions cover all its products, services and features available to users in both countries. Rather than announcing a single withdrawal deadline for everyone, the exchange will communicate account-specific instructions to affected customers.
The platform stated:
“In line with applicable legal and regulatory requirements, KuCoin will discontinue services for users in Russia and Belarus effective immediately.” — KuCoin, in its official announcement published on October 29, 2026.
Under the arrangement, customers whose accounts are affected will receive notifications outlining the relevant deadlines and the steps required to close their positions and withdraw their assets.
KuCoin has not published a consolidated timetable for the process. Consequently, affected customers will need to consult their individual account notifications to determine when their access will change and which actions they must complete.
The exchange also clarified that users who have not received a notification do not need to take immediate action. However, their accounts remain subject to KuCoin’s terms of use and applicable restrictions.
Customers who are uncertain about their account status have been directed to the exchange’s customer support team.
The KuCoin Russia exit announcement also includes a warning about phishing attempts. The exchange urged users to communicate through official channels, highlighting the risk of fraudulent messages impersonating customer support during account closures.
Such warnings are particularly relevant when customers face withdrawal deadlines. Fraudsters may exploit uncertainty by sending fake instructions, requesting account credentials or attempting to obtain wallet recovery phrases.
Users should therefore verify account notifications through KuCoin’s official website or application before acting on messages claiming to offer assistance.
KuCoin is the third major exchange covered in this report to announce restrictions affecting Russia and Belarus during October.
MEXC announced on October 20 that it would discontinue services for users in both countries as part of its global compliance efforts. Like KuCoin, MEXC said affected customers would receive individual notifications detailing the procedures and timelines for closing positions and withdrawing assets.
The exchange stated: “Your assets remain safe and secure.” — MEXC, in its October 20, 2026, service update.
MEXC also warned users that its staff would never request payments, account credentials, seed phrases or asset transfers through private messages.
Bitget introduced comparable restrictions earlier in the month. On October 16, the exchange updated its terms to include Russia and Belarus among jurisdictions whose users face restrictions. The company subsequently explained that the account closures applied to certain users rather than representing a shutdown of the entire platform.
The three announcements share several features: geographic restrictions, individual customer notifications and procedures intended to give affected users an opportunity to close positions and withdraw their holdings.
However, the exchanges have not provided a common explanation linking their decisions to one specific regulatory order.
The sequence of announcements has nevertheless increased uncertainty for cryptocurrency users in Russia and Belarus who rely on international exchanges for trading and asset management.
The KuCoin Russia exit therefore forms part of a broader pattern of restrictions affecting access to international cryptocurrency platforms, although each company’s decision must be assessed according to its own published terms and explanations.
The withdrawals come against the backdrop of the European Union’s expanding sanctions framework targeting Russia’s financial sector and cryptocurrency-related services.
On July 23, 2026, the Council of the European Union adopted its 21st sanctions package against Russia. The measures extended transaction bans to 14 additional cryptocurrency-related service platforms based in jurisdictions including Georgia, Panama, the United Arab Emirates, the Marshall Islands, Kyrgyzstan and Belarus.
The package also introduced a mechanism that could allow the EU to prohibit transactions with cryptocurrency service providers in third countries when those platforms are used to help Russia circumvent sanctions.
Kaja Kallas, the EU’s high representative for foreign affairs and security policy, said: “We’re hitting over a hundred banks and crypto operators, 40+ vessels in Russia’s shadow fleet, and several oil refineries in Russia and Belarus.” — Kallas, commenting on the EU’s 21st sanctions package.
The measures demonstrate the bloc’s intention to extend financial restrictions beyond conventional banking and into cryptocurrency services that could facilitate prohibited transactions.
However, the EU package should not automatically be treated as the direct cause of KuCoin’s decision. The exchange’s October 29 announcement referred broadly to applicable legal and regulatory requirements without naming the sanctions package or identifying a specific instruction from European authorities.
The distinction matters because compliance decisions can reflect several considerations, including the jurisdictions in which an exchange operates, the regulatory obligations applicable to its business and the risks associated with servicing particular markets.
The KuCoin Russia exit highlights how these considerations can affect the availability of cryptocurrency trading services even when an exchange does not publicly identify the precise regulatory trigger for its decision.
For customers in Russia and Belarus, the immediate priority is understanding whether their accounts fall within the new restrictions and completing any required actions before their individual deadlines.
KuCoin has advised affected users to follow the instructions delivered through official account notifications. Those who have questions should contact customer support rather than relying on unverified messages or third-party offers to facilitate withdrawals.
The exchange has not disclosed how many customers will be affected or the total value of assets held in their accounts. It has also not announced a single deadline that applies to every customer.
Sources: KuCoin’s official announcement, MEXC’s service update, European Union’s 21st sanctions package.
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