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On October 29, 2026, KuCoin announced the immediate cessation of all services for users based in Russia and Belarus. The decision covers the entire range of products offered by the platform, including trading, custody, and other digital financial instruments. According to statements from the exchange, the move is driven by legal and regulatory compliance requirements applicable to the Russian market. KuCoin specified that affected users will receive individual notifications with precise deadlines for the orderly closure of accounts and withdrawal of assets, allowing them to manage their positions before the total cessation of activities.
Why it matters
This withdrawal is part of a series of departures by major offshore exchanges from markets subject to Western sanctions. KuCoin is at least the third international exchange to suspend services in Russia and Belarus during the current month. MEXC halted services for users in these two countries on October 20, while Bitget cut access for clients in Russia, Belarus, and Kazakhstan starting October 21. The context is marked by the introduction of new local regulations that modify operating conditions for foreign crypto platforms.
The numbers
The Bank of Russia has imposed a 90-day deadline on registered crypto exchange operators to join NAUFOR (National Association of Securities Market Participants). The association currently counts 725 members. Among these, only seven digital financial asset platform operators have already completed membership in this specific role. Russian Federal Law No. 282-FZ on digital efficiency, which came into force on September 1, makes this membership mandatory to operate legally in the country. Sberbank is among the companies added to both the operator register and the self-regulatory organization register.
What remains unclear
KuCoin has not specified how many accounts or what value in assets are involved in the service shutdown. Furthermore, no public date has been published by which users must transfer funds; deadlines for the orderly closure of accounts and asset withdrawal will be communicated exclusively through individual notifications to those concerned. No official data is available on the volume of transactions that will be interrupted as a result of this decision.
Sources: CoinDesk, Cointelegraph, Unchained.
This article is for informational purposes only and does not constitute financial advice or an investment recommendation.
* Content created with the assistance of artificial intelligence systems.