KuCoin Halts Services in Russia, Belarus as EU Sanctions Bite

KuCoin has halted service for clients in Russia and Belarus, making it the third major crypto exchange to impose curbs in the region within two weeks.

The exchange said the move was effective right away and applied across all products. Customers in the affected group will each get their own timetable for winding down positions and pulling out funds.

KuCoin pointed to “applicable legal and regulatory requirements,” but did not name any new rule or regulator. Earlier statements from the company, though, offer hints.

Sanctions Pressure Built Up Months Before

The European Union approved its 21st sanctions package against Russia on July 23, prohibiting dealings with 14 foreign crypto platforms and authorizing measures against other overseas services that help get around the penalties.

A few weeks afterward, KuCoin started cutting off direct and indirect transactions tied to services such as A7-linked entities, Rapira and HTX. A KuCoin notice issued on September 29 broadened the restricted-counterparty list and warned that even indirect links through intermediary wallets could lead to reviews or account caps.

⚡️ BREAKING: The EU Has Adopted Its 21st Sanctions Package — Another Blow to Russia

The new sanctions target:

🔵 170 entities and 48 individuals.
🔵 More than 100 banks and cryptocurrency operators.
🔵 Over 40 vessels from Russia's “shadow fleet.”
🔵 Several oil refineries in…

— NEXTA (@nexta_tv) July 23, 2026

Taken together, those steps point to sanctions exposure as a likely reason for the exit, though they do not prove Brussels instructed KuCoin to pull out.

There are also reasons for KuCoin to treat European oversight with care. In February, Austria's financial regulator placed limits on new business at its EU subsidiary, citing weak spots in appointments tied to anti-money-laundering and sanctions compliance.

The ban was removed in May, although other operational constraints stayed in place.

Other exchanges are following the same path. Bitget placed restrictions on users in Russia, Belarus and Kazakhstan following a terms update on October 16. MEXC declared on October 20 that it was leaving Russia and Belarus.

How Large Could the Affected KuCoin User Base Be?

KuCoin has not released account counts broken down by country. Semrush, however, estimates that in September Russia accounted for 1.03 million visits to KuCoin's website, or 3.93% of all visits, putting it third among traffic sources.

KuCoin reports a global user base above 45 million. If Russia's share of web traffic is applied to that total, it would point to around 1.77 million registered accounts from the country.

That figure is an illustration rather than a confirmed number of affected users, since visits are not the same as distinct individuals, mobile-app usage is not counted, and a large share of registered accounts may be dormant.

Belarus contributes an unspecified amount. The actual tally of users getting closure notices could turn out far lower.