Cryptocurrency exchange KuCoin announced on October 29 that it was immediately ending services for users located in Russia and Belarus. The restriction covers all products and functions on the platform, according to an official notice.
The company said affected customers would be able to close positions and withdraw assets in an orderly manner. Account holders are expected to receive individual notifications specifying deadlines and instructions. Those who have not received a notice are advised to take no action for now.
KuCoin attributed the decision to legal and regulatory compliance but did not identify specific laws or sanctions measures in its announcement.
The exchange also warned customers about fraudulent messages exploiting the changes and urged them to use official support channels only.