Another major cryptocurrency exchange has announced that it will stop doing business with Russians

The KuCoin cryptocurrency exchange has stopped serving users from Russia and Belarus, following in the footsteps of Bitget and MEXC. The restrictions apply to all of the exchange’s products and services. The company explained this decision as a matter of regulatory compliance and assured users that it would ensure an orderly termination process so that users could close their positions and withdraw their assets.

In CoinMarketCap’s ranking of crypto exchanges, KuCoin ranks eighth with a daily trading volume of approximately $1.2 billion. According to the platform’s own data, it has about 45 million users.

In October, two other crypto exchanges from CoinMarketCap’s top 10—Bitget and MEXC—announced similar decisions regarding users from Russia and Belarus. Both platforms also attributed the changes to international regulatory requirements and promised to allow time for users to close out their positions and withdraw funds.

Source: RBC Crypto.

The Bitget crypto exchange has added Russia, Belarus, and Kazakhstan to its list of restricted countries, whose residents will no longer be able to use the platform’s services. 

As a reminder, Belarus has blocked the cryptocurrency exchanges Bybit and OKX.