WirepolicyDextape brief
KuCoin Pulls All Products From Users in Russia and Belarus, Effective Immediately
KuCoin's notice named no rule behind the cutoff. The same day, Russia's central bank said registered crypto exchange operators have 90 days to join a newly approved self-regulator.
Dextape brief
KuCoin has ended access for customers in Russia and Belarus, announcing Thursday that services end immediately, with no deadline yet set for withdrawing funds. The shutdown covers every product, service and feature, citing applicable legal and regulatory requirements without naming a specific regulation or sanctions step. Affected customers will be notified with deadlines and closure instructions, and KuCoin said they can close positions and move their assets out. Anyone who receives no such message has nothing to do. The company gave no figures on the number of accounts or the value of assets affected. Separately, Russia's central bank gave firms running digital currency exchanges and depositories 90 days to join a self-regulatory body and added NAUFOR to its list of self-regulators. That body, with 725 members, will help write industry standards and check compliance.
Why it matters: The exchange exit narrows trading options for Russian users just as domestic firms face a mandatory industry self-regulation deadline.
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