Key facts
- MEXC's services for Russian and Belarusian users will cease on October 20, 2026.
- The exchange issued a phishing warning to affected users.
- Bitget also recently prohibited services in Russia, Belarus, and Kazakhstan.
- Russia implemented a licensed crypto trading framework on September 1, 2026.
- Belarus approved its first crypto banks in January 2026.
Seychelles-based crypto exchange MEXC will stop providing services to users in Russia and Belarus starting October 20, 2026, citing a commitment to global compliance. This decision aligns with similar actions taken by rival exchange Bitget, which recently restricted services in these countries and Kazakhstan. MEXC had previously withdrawn from the Netherlands due to European Economic Area enforcement related to MiCA regulations. The exchange also warned users about phishing attempts and unofficial communications. The EU and UK have increased scrutiny on crypto platforms with Russian ties, making it increasingly risky for offshore exchanges to serve these markets. Meanwhile, Russia and Belarus are developing their own regulated domestic crypto markets, with Russia's new law effective September 1, 2026, and Belarus approving its first crypto banks in January 2026. Moscow Exchange plans to launch crypto trading in December, and Sberbank has received approval for crypto exchange services.