Kucoin Exchange Leaves Belarus and Russia

[greysonz]

The exchange announced the immediate cessation of all products, services, and features for users in these countries due to legal and regulatory requirements.
Users will be given the opportunity to close open positions and withdraw their assets. Affected users will receive notifications with specific deadlines and instructions.

Another week, another exit for the centralized exchange from Russia.

https://www.kucoin.com/ru/announcement/ru-important-notice-discontinuation-of-services-in-russia-and-belarus

[Russlenat]

not the first one, we have the full list here for 2026

1. Bitget – October 16–20, 2026 (Russia, Belarus, Kazakhstan)
2. MEXC – October 20, 2026 (Russia, Belarus)

present
3. KuCoin – October 29, 2026 (Russia, Belarus)

Some exchanges have already exited in the prior years, this year the pressure is probably high, so we can expect more to follow.

[greysonz]

not the first one, we have the full list here for 2026

1. Bitget – October 16–20, 2026 (Russia, Belarus, Kazakhstan)
2. MEXC – October 20, 2026 (Russia, Belarus)

present
3. KuCoin – October 29, 2026 (Russia, Belarus)

Some exchanges have already exited in the prior years, this year the pressure is probably high, so we can expect more to follow.

Your list is not complete.

Remaining: okx, gate (from Asia), bybit (from UAE) 25% traffic from Russia

Gone: mexc, bidget, kucoin, huobi, (all Asian)

[Filicius]

Why is that? Russian regulation is a great unknown to me. In Europe many exchanges have been left out because they have not been able to meet the requirements of the MiCA crypto-assets regulation, among others, nothing more and nothing less than the giant Binance. But what's the reason why those exchanges you mention are leaving Russia?

In the link they only say that it is for compliance reasons, but what reasons specifically?

[_act_]

We first saw the news of Bitget and MEXC leaving Russia and Belarus, now and it is Kucoin. I think more exchanges are under Western or EU pressure right now to leave these two countries if they want to avoid sanctions. Let us watch and see which exchange or exchanges will follow next.

[Catenaccio]

not the first one, we have the full list here for 2026

1. Bitget – October 16–20, 2026 (Russia, Belarus, Kazakhstan)
2. MEXC – October 20, 2026 (Russia, Belarus)

present
3. KuCoin – October 29, 2026 (Russia, Belarus)

Some exchanges have already exited in the prior years, this year the pressure is probably high, so we can expect more to follow.

Since the start of 2022 war against Ukraine, many foreign companies already reshuffled their business, and completely or partially moved out of Russia. The most severe business migration is from Russia, not Belarus but with sanctions against Russia recent years and massive effects on its national economy, it's unsafe for foreign companies to stay in Russia.

Not only about newest regulations on cryptocurrency industry and exchanges, even without such new regulations, foreign companies have been already unsafe in Russia. Their headquarters and business treasury can be seized anytime by Russian government without any valid legal reason.

[greysonz]

Why is that? Russian regulation is a great unknown to me. In Europe many exchanges have been left out because they have not been able to meet the requirements of the MiCA crypto-assets regulation, among others, nothing more and nothing less than the giant Binance. But what's the reason why those exchanges you mention are leaving Russia?

In the link they only say that it is for compliance reasons, but what reasons specifically?

All these exchanges are flirting with the West in order to enter the US market.

If we're going to go next, then OKX or Gate.
Or any of the smaller Asian ones, but they might skip the dance for the West because they can't compete with the giants. They'll be happy to have Russian traffic in the initial stages.

[Russlenat]

not the first one, we have the full list here for 2026

1. Bitget – October 16–20, 2026 (Russia, Belarus, Kazakhstan)
2. MEXC – October 20, 2026 (Russia, Belarus)

present
3. KuCoin – October 29, 2026 (Russia, Belarus)

Some exchanges have already exited in the prior years, this year the pressure is probably high, so we can expect more to follow.

Your list is not complete.

Gone: mexc, bidget, kucoin, huobi, (all Asian)

HTX (formerly Huobi) although there are reports that they are sending emails to their customers in Russia to withdraw their funds , seems that they are restricting them already, but your title is about exchanges leaving Russia, I haven't seen a report where HTX announced they are leaving Russia yet , if there is please give me the link.

In the link they only say that it is for compliance reasons, but what reasons specifically?

They did not mention the specific reason but it's very obvious that the EU sanctions against Russia are probably the main reason as you can read in the EU adopts 21st package of sanctions against Russia.

Today, the European Commission welcomes the adoption by EU Member States of the 21st package of sanctions against Russia. The package further restricts Russia's ability to fund its illegal war and to carry out attacks on Ukrainian civilians and civilian infrastructure. Russia's economy is slowing sharply, and EU sanctions have effectively cut Russia off from the global financial system. Russia's budget is under growing pressure, with more than two‑thirds of the liquid assets of its sovereign wealth fund depleted since the start of the war.

The measures focus on the sectors with the greatest impact

energy
financial services, including crypto
trade
and the Russian military‑industrial complex

[lovesmayfamilis]

Is there any need to be surprised? The withdrawal of crypto exchanges from Russia seems obvious, and the reason may lie in the fact that Russia restricts access to cryptocurrencies for the majority of citizens, and as a result, the market becomes unprofitable. I think this is a cumulative response to growing regulatory pressure, as well as tougher sanctions. It can be expected that the other remaining exchanges in Russia will also resort to the fact that they will stop working with clients from Russia and Belarus, as their closest ally.

HTX (formerly Huobi) although there are reports that they are sending emails to their customers in Russia to withdraw their funds , seems that they are restricting them already, but your title is about exchanges leaving Russia, I haven't seen a report where HTX announced they are leaving Russia yet , if there is please give me the link.

https://coingape.com/crypto-exchange-htx-joins-bitget-and-mexc-in-restricting-services-for-russian-users/
https://crypto-resources.com/htx-russia-ban-withdrawal-bybit/

Perhaps the words "restricts" and "leaves" have the same meaning in the OP's opinion

[PX-Z]

They should, or face sanctions or penalties from the US, EU, or other similar authorities if they violate those sanctions by operating in highly restricted countries. Plus, Russia also introduced new restrictions policy just last month, and as far as i know, Kucoin doesn't have a license to operate there. So yeah, regulatory compliance is something they can't just ignore to avoid getting fine for several millions.

[Yamane_Keto]

Why is that? Russian regulation is a great unknown to me. In Europe many exchanges have been left out because they have not been able to meet the requirements of the MiCA crypto-assets regulation, among others, nothing more and nothing less than the giant Binance.

regulatory pressures in the jurisdictions where they obtained their operating licenses Seychelles or within the European Union (under MiCAR). they may have faced threats of being tracked down, having their operations shut down, and becoming the subject of investigations by European law enforcement.

[Aliciaworld]

A lot of exchanged face regulatory and compliance in their reason for leaving Europe and Asia as well as the US.
Are these regulations that strict or were they made to make it difficult for exchanges to thrive?

[Russlenat]

https://coingape.com/crypto-exchange-htx-joins-bitget-and-mexc-in-restricting-services-for-russian-users/
https://crypto-resources.com/htx-russia-ban-withdrawal-bybit/

Thanks for the reference. (now they are confirm to be part of the list ( for me).

Perhaps the words "restricts" and "leaves" have the same meaning in the OP's opinion

I think he is right, that reference you showed proved it.

A lot of exchanged face regulatory and compliance in their reason for leaving Europe and Asia as well as the US.
Are these regulations that strict or were they made to make it difficult for exchanges to thrive?

That's the change they don't want but it's inevitable. So only the strong ones will remain in the end.

[Lida93]

Why is that? Russian regulation is a great unknown to me. In Europe many exchanges have been left out because they have not been able to meet the requirements of the MiCA crypto-assets regulation, among others, nothing more and nothing less than the giant Binance. But what's the reason why those exchanges you mention are leaving Russia?

In the link they only say that it is for compliance reasons, but what reasons specifically?

I wish to use  my country in relation to this topic because what's  happening now with Kucoin exit the Belarus and Russia market is all similar. The same was contained around regulatory pressure from the government, it all started from 2023 and by February 2024 Binance withdrew services followed by Kucoin and OKX. All that was told was that they were facing regulatory pressure from the CBN and NSA. Exchanges wouldn't leave a market for ordinary regulatory reasons, so there could be more stunning requirements that could have made these exchanges choosing exit instead.

At the end of the day even IF it get deeply explained about the various reasons, it would still bounce back to one word ''compliance'' reasons.