KuCoin has announced that it will discontinue all services for users located in Russia and Belarus. The decision, communicated in a notice dated October 29, applies to the exchange’s entire range of products and features.
Reason and Notification Process
The exchange attributes the move to applicable legal and regulatory requirements. Affected customers will receive individual notifications that include specific instructions and deadlines for closing positions and withdrawing assets. Users who have not received such a notification are advised that no action is required based on the public notice.
Account‑Specific Closure Details
Because accounts may hold open orders, borrowed funds, or active positions, the withdrawal process varies by account. KuCoin emphasizes that a single universal deadline does not apply; each user must follow the account‑specific guidance provided.
Impact on Asset Ownership
While the exchange will no longer provide access to its platform for users in the two countries, the underlying blockchain tokens remain transferable on their respective networks. The restriction affects only the commercial gateway, not the technical properties of the assets.
Guidance for Users
KuCoin advises users to rely on official account channels for detailed instructions and to be cautious of unsolicited messages claiming to expedite the exit process.
Broader Implications
The move highlights the exposure of cryptocurrency services to jurisdictional changes, which can affect business operations, treasury management, and liquidity sources for integrated platforms.
