KuCoin suspends services for users in Russia and Belarus

KuCoin has immediately cut off access to all products and services for users based in Russia and Belarus, saying the move is driven by legal and regulatory compliance. For high-risk payment and crypto businesses, the useful detail is simple: sanctions exposure is still translating directly into account restrictions and exit procedures, not just policy statements.

1. In a Thursday notice, KuCoin said users in Russia and Belarus would lose access to all products and services immediately. The exchange said it would provide an orderly exit process so users can withdraw assets.
2. KuCoin framed the decision as a compliance action. In a Thursday X post, the exchange said: “Compliance is at the core of our operations and guides our decisions on where and how we offer our services.”
3. The suspension comes as crypto companies continue adjusting to international sanctions led by the United States and Europe against Russia and Belarus over the war in Ukraine. KuCoin is headquartered in the Seychelles.
4. On the same day, Russia’s central bank approved the National Association of Securities Market Participants, known as NAUFOR, as a self-regulatory body for crypto exchanges and custodians. The central bank’s registry currently includes 23 crypto exchanges and eight digital custody institutions, and registered entities are required to join a self-regulatory organization within 90 days.