The exchange cited legal and regulatory compliance in its reason for cutting off services to users based in the two countries, currently the targets of international sanctions.
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.&
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