MEXC Says It Will Stop Serving Residents of Russia and Belarus

MEXC has told affected clients they will receive individual notices with deadlines to close positions and withdraw funds. For PSPs and exchange operators, the important part is not the headline itself, but the mechanics: once a venue starts offboarding users by jurisdiction, account remediation and forced exits can happen fast.

1. The exchange said customers covered by the restriction will get personal notifications showing the timeframe for closing positions and withdrawing funds. If no notice has arrived yet, the client can continue using the account under the current terms, according to the announcement.
2. MEXC’s headquarters are in Singapore, and the platform is registered in the Seychelles. The exchange had continued working with clients from Russia and Belarus despite international sanctions.
3. Former Binance vice president for the CIS, Gleb Kostarev, said moves like this are tied to European regulators’ policy, which has threatened sanctions against global exchanges that continue working with Russia and Belarus. He said the sanctions packages will keep expanding and that global players do not want to end up in HTX’s position.
4. Kostarev said the main risk zone is exchanges that already have permission to operate in the EU, naming OKX, Bybit, Gate, KuCoin, and BingX. He added that MEXC does not have a European license, but could still be affected.
5. He also advised Russian and Belarusian users not to open futures positions on these platforms, warning that an exchange can suddenly require them to take out their money urgently. If a user has a residence permit or passport from another country, he said, they should contact support in advance and re-register the account under those documents.

Separately, Bitget said that from Friday, 16 October, Russia and Belarus were added to the list of countries whose residents are barred from using the exchange. Under Bitget’s rules, the restriction applies to companies and individuals who are resident, registered, or operating in that jurisdiction.