Cryptocurrency exchange MEXC has announced plans to discontinue services for users in Russia and Belarus, becoming the latest major trading platform to restrict access in the two countries amid tightening international compliance requirements.
In an official announcement dated October 20, 2026, MEXC said the decision formed part of its efforts to strengthen global regulatory compliance and maintain sustainable operations.
The exchange confirmed that affected customers would receive individual notifications specifying deadlines and procedures for closing trading positions and withdrawing their cryptocurrency holdings.
However, MEXC did not announce a universal termination date or provide a detailed explanation of the regulatory developments behind its decision. The company emphasized that customer assets remain secure throughout the transition and that accounts receiving no official notification would continue operating normally, subject to its terms of service.
The announcement follows similar restrictions introduced by Bitget, highlighting growing compliance challenges for international cryptocurrency exchanges serving Russian and Belarusian customers.
MEXC Outlines Account Closures and Withdrawal Procedures
Under the new policy, MEXC will identify affected users and communicate the steps required to exit the platform. Customers receiving notifications must follow their account-specific instructions for closing positions and withdrawing assets within the applicable deadlines.
The exchange has not disclosed how many customers will be affected, the value of assets involved or whether restrictions will apply simultaneously across spot and derivatives trading. MEXC also warned customers about fraudulent communications impersonating the exchange during the withdrawal process.
The company stated that it would never request account credentials, seed phrases, payments or cryptocurrency transfers through private messages. Users were directed to verify information through official MEXC channels rather than relying on unsolicited communications.
The latest withdrawal adds to the exchange’s recent jurisdictional restrictions. On September 29, MEXC announced a phased wind-down of services for users in the Netherlands, citing regulatory developments within the European Economic Area. Its October 21 restricted-jurisdictions guidance also identifies the United States, Canada, the United Kingdom, Singapore and several other markets where services are prohibited.
These measures demonstrate the increasingly fragmented regulatory environment confronting global cryptocurrency exchanges.
Bitget Restrictions Highlight Broader Market Pressure
MEXC’s announcement follows Bitget’s decision to restrict services for users in Russia and Belarus. Bitget updated its prohibited-jurisdictions list on October 16 and subsequently outlined procedures for affected customers to close positions and withdraw funds.
According to reporting by The Moscow Times, Bitget began restricting new trading activity for affected accounts on October 18, ahead of additional account limitations. The developments come against the backdrop of international sanctions imposed following Russia’s invasion of Ukraine in February 2022.
Cryptocurrency exchanges operating across multiple jurisdictions must assess sanctions exposure, anti-money laundering obligations and potential restrictions involving counterparties or payment infrastructure. Industry participants cited by Russian media have identified secondary sanctions risks and rising compliance costs as factors influencing exchanges’ willingness to serve Russian customers.
Nevertheless, MEXC has not attributed its decision to a particular sanctions measure, enforcement action or regulatory directive. The restrictions could reduce access to international cryptocurrency liquidity for affected traders, particularly those using centralized exchanges for derivatives, stablecoin conversions and cross-border transactions.
Their wider market impact remains difficult to quantify because neither exchange has disclosed the number of affected accounts or associated trading volumes. For MEXC customers in Russia and Belarus, the immediate priority is understanding the individual withdrawal requirements communicated by the exchange.
More broadly, the parallel decisions illustrate how regulatory compliance considerations are reshaping the geographical availability of cryptocurrency trading services, even as digital assets continue to operate across national borders.
