KuCoin suspends services in Russia and Belarus

Cryptocurrency exchange KuCoin announced that it would immediately suspend services for its users in Russia and Belarus, citing legal and regulatory compliance concerns.

In a Thursday notice, KuCoin said it had suspended access to all products and services for users based in Russia and Belarus. According to the exchange, it would offer an “orderly exit process” to allow users to withdraw assets.

“Compliance is at the core of our operations and guides our decisions on where and how we offer our services,” said the exchange in a Thursday X post regarding the service suspension.

The move comes as many crypto companies are complying with international sanctions led by the United States and Europe against Russia and Belarus over the war in Ukraine. KuCoin is headquartered in the Seychelles.