KuCoin ends Russia and Belarus services as exchanges retreat under sanctions

KuCoin has ceased its operations involving customers in Russia and Belarus on October 29 on the ground of following regulations; however, the sanctions were not specified. Earlier in October, Bitget and MEXC introduced the same limitations. Hence, after three exchanges have halted their work in just one month, people are interested in where the affected traders will relocate their funds. At this time, the answer is still unclear. There has been no indication on the part of the exchanges in terms of how many customers are affected or how much trading volume is expected to be lost. Although withdrawals confirm that international exchanges are under increasing pressure, it is too early to conclude whether this means that they are pulling out of the Russian and Belarusian markets altogether.

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