KuCoin exits Russia and Belarus as crypto exchanges withdraw from Western-sanctioned markets
Source: CoinDesk ·
From the source
The exchange is closing accounts in both countries after MEXC and Bitget announced similar moves earlier this month. Cryptocurrency exchange KuCoin is ending all services for customers in Russia and Belarus, joining other trading platforms withdrawing from the two countries as Western sanctions continue to restrict financial activity. In a Thursday statement , KuCoin cited compliance with legal and regulatory requirements, without identifying any specific sanctions or regulations behind the decision. The ban takes effect immediately and applies to all its products and services. Customers will be notified of the deadlines for closing positions and withdrawing their funds, it said. The exchange joins rivals MEXC and Bitget, which also announced restrictions on Russian and Belarusian customers this month. MEXC said that it would stop serving users in both countries on Oct. 20. Since Russia invaded Ukraine in February 2022, Western governments have imposed sanctions targeting Russian…