KuCoin Suspends Services for Russian and Belarusian Users, Provides Asset Withdrawal Process

Odaily reports: Cryptocurrency exchange KuCoin has announced the immediate suspension of all products and services for users in Russia and Belarus, citing legal and regulatory compliance considerations. KuCoin will provide an orderly exit process allowing users to withdraw their assets.

On Thursday, the Bank of Russia approved the National Association of Securities Market Participants (NAUFOR) as a self-regulatory organization for cryptocurrency exchanges and custodians. The central bank's register currently lists 23 cryptocurrency exchanges and 8 digital asset custodians, and registered entities must join a self-regulatory organization within 90 days. (Cointelegraph)