BloFin Restricted Countries and Regulation Explained

BloFin's Terms of Use bar residents of 39 countries and Russian-controlled parts of Ukraine from using the exchange. The United States, Canada, mainland China, India, Singapore and the United Arab Emirates are among the excluded markets.

The list does not cover every country where regulators have intervened. South Korea blocked BloFin's website on 13 Oct 2026 without appearing on it. India ordered the exchange's apps taken down five weeks earlier, even though BloFin already excluded Indian residents.

Perpetual futures are BloFin's best-known product. These contracts track a coin's price without an expiry date, with traders on one side paying the other a regular fee called the funding rate. Our funding rates dashboard tracks those payments across six large exchanges.

Which countries are restricted on BloFin?

Residents of the places below cannot open or keep a BloFin account under its terms.

Section 6.1 of BloFin's Terms of Use, dated 3 Jul 2026, designates them as Restricted Locations. The restriction applies to individuals and companies resident or domiciled there. BloFin can add jurisdictions at its sole discretion, so the published list is a minimum.

Of the clause's 44 entries, five concern occupied parts of Ukraine, leaving 39 countries. Russia itself is not named, nor are Venezuela, Bangladesh or Syria.

Why sanctioned countries appear on the BloFin list

There is no explanation for individual entries. Section 4.3, the eligibility clause, instead requires every user to promise not to transact with anyone on a sanctions list. It specifically names the US Treasury's Specially Designated Nationals list and the UN Security Council sanctions list.

This obligation applies in every country BloFin serves.

Why the US, Canada, Singapore, India and the UAE are excluded

BloFin gives no reason for these exclusions. Its terms also describe no licence or registration in any of the five markets.

Section 7.7 addresses the UAE directly, stating that BloFin is not regulated by Dubai's Virtual Assets Regulatory Authority (VARA) and therefore cannot serve residents of Dubai or the wider UAE.

Platforms serving Indian users must register with India's Financial Intelligence Unit, whether they operate onshore or offshore. That requirement led to formal action against BloFin in September 2026.

Can Americans use BloFin?

US residents cannot open an account. The United States appears on the restricted list, and BloFin's terms name no American company.

Similar contracts have begun appearing onshore. The Commodity Futures Trading Commission (CFTC), the US derivatives regulator, approved a Bitcoin perpetual contract listed by Kalshi on 29 May 2026. Kalshi is a US-regulated exchange. Our guide to crypto exchanges in the United States covers platforms licensed there.

Where BloFin is available outside the restricted list

BloFin's terms allow residents of countries absent from section 6.1 to register. They must still comply with local rules, which section 4.4 makes each user responsible for checking.

For EU residents, the MiCA section below explains the rules that changed in July 2026.

Is BloFin available in the UK?

UK residents can register because the United Kingdom is not a Restricted Location. The terms name no UK company or authorisation from the Financial Conduct Authority (FCA).

Since 6 Jan 2021, UK firms have been barred from selling crypto derivatives to retail consumers. These contracts derive their value from an asset's price. The ban covers crypto futures, options and contracts for difference offered by firms acting in or from the UK.

The FCA opened applications under the UK's new crypto rules on 30 Sep 2026. The regime comes into force on 25 Oct 2027.

Lookalike sites pose a separate risk. The FCA warned about Blofin Ext on 23 Oct 2025, identifying an unauthorised firm at blofinext.com. That address is different from blofin.com. Users can check web addresses, email addresses and social media accounts through BloFin's official verification page.

Is BloFin available in Australia?

Australian residents can register under BloFin's terms, which do not list Australia as a Restricted Location or describe an Australian licence.

From 9 Apr 2027, the Corporations Amendment (Digital Assets Framework) Act 2026 will require digital asset platforms to hold a financial services licence from the Australian Securities and Investments Commission (ASIC). The date and requirement appear in ASIC's implementation roadmap.

Platforms that already hold local approvals are covered in our guide to crypto exchanges in Australia.

Is BloFin regulated? Its licences and legal structure

The terms identify neither a financial regulator's licence nor the company a customer contracts with.

Instead, they define "BloFin" as the website and apps. India's Financial Intelligence Unit identified BLF Global Limited as the operator behind the Blofin brand in its press release of 9 Sep 2026.

Section 14 requires users to open a support ticket and negotiate in good faith before sending BloFin a written notice of claim. Only then can arbitration begin.

The cap in section 12.2 also limits potential recovery. A user who paid $300 in fees over the preceding three months could claim no more than $300 from BloFin, regardless of the loss.

How MiCA affects BloFin users in the European Union

Although BloFin's terms still allow EU residents to register, EU law has barred unlicensed firms from offering them crypto services since 1 Jul 2026.

The Markets in Crypto-Assets Regulation (MiCA) is the EU's crypto law. Authorisation as a crypto-asset service provider (CASP) in one member state allows a firm to serve clients across the European Economic Area, comprising the EU, Iceland, Liechtenstein and Norway.

What changed when the MiCA grace period ended

On 1 Jul 2026, the grace period under older national rules ended. Firms outside the EU without authorisation cannot provide MiCA services to EU clients or solicit them, the European Securities and Markets Authority (ESMA) said in its statement of 23 Jun 2026.

ESMA described the only exception as narrow. It permits reverse solicitation, where a client approaches the firm on their own exclusive initiative.

Our check of ESMA's register of authorised crypto firms on 19 Oct 2026 found no entry for BloFin. Its restricted list also contains no EU member state.

According to the same ESMA statement, clients of unauthorised firms receive none of MiCA's safeguards, including its protections for client assets. ESMA directed affected clients towards an authorised provider or a self-hosted wallet. Our ranking of MiCA-licensed exchanges in Europe lists firms holding that licence.

How EU rules treat perpetual futures

A separate EU rulebook applies to perpetual futures. In a statement on 24 Feb 2026, ESMA said crypto perpetuals sold to retail clients will likely fall under national restrictions on contracts for difference.

These restrictions limit leverage, the borrowing that allows traders to control positions larger than their deposits. Positions must close automatically when the deposit backing them runs low, and retail clients cannot lose more than their account balance. A funding rate mechanism does not change that assessment, ESMA added.

Regulators that have acted against BloFin

Four national authorities have taken formal action against BloFin. The latest two actions occurred within five weeks of each other in 2026.

In August 2025, the Philippines' Securities and Exchange Commission said BloFin and four other platforms allowed registration with Philippine mobile numbers and accepted peso deposits. They lacked the required registration and crypto-asset service provider licence, Philstar reported. The Philippines does not appear among BloFin's Restricted Locations.

Why India acted against BloFin despite its restriction

BloFin already excluded India when the notice arrived, but the regulator found the platform operating there.

The Financial Intelligence Unit-India (FIU-IND) named Blofin among 15 crypto service providers in the Ministry of Finance's release of 9 Sep 2026. Notices were issued under section 13 of the Prevention of Money Laundering Act, alongside separate orders to take down the platforms' apps and web addresses.

Since March 2023, Indian law has required crypto service providers to register as reporting entities regardless of whether they are based in India or abroad. The release also reiterated that crypto products are unregulated and that users may have no regulatory recourse for losses.

Why South Korea blocked BloFin's website

South Korea is absent from BloFin's restricted list. According to Decrypt's report on Korea's app blocks, the regulator considers an overseas platform to be operating locally if it provides a Korean-language website, markets to Korean users or accepts won payments.

An unregistered crypto business in Korea can face up to five years in prison or a fine of up to KRW 50 million, according to Korean law firm BKL. People promoting these platforms through paid referral links may also face criminal liability as accomplices, the firm said.

At the Financial Intelligence Unit's request, Korea's Broadcasting, Media and Communications Review Commission approved the blocks after hearings on 6 and 7 Oct 2026. Financial News reported that Blofin was among 27 blocked sites, alongside KuCoin, MEXC and BingX. App stores had already restricted downloads of unregistered exchange apps.

Existing users could struggle to withdraw, the regulator said. It planned to guide withdrawals through DAXA, the alliance of Korea's registered exchanges, according to Bloomingbit. Our guide to crypto exchanges in South Korea covers locally registered platforms.

How BloFin checks where its users live

Identity checks are optional for trading, so BloFin relies mainly on users' declarations.

Know your customer (KYC) checks establish a customer's identity and residence. Without submitting documents, basic account holders can withdraw up to 20,000 USDT every 24 hours, according to BloFin's withdrawal guide. USDT is a stablecoin designed to maintain a value of one US dollar.

Futures trading and maximum leverage are listed as unlimited at every level in BloFin's verification guide. Verification increases withdrawal limits without altering access to trading products.

Registration details must nevertheless be complete, accurate and kept up to date under section 3.2. Section 5.4 permits BloFin to end some or all services if it has grounds to believe that information is false or outdated.

What a VPN changes on BloFin

A virtual private network (VPN) changes the internet address visible to a website. It does not change residence or domicile, the criteria used in BloFin's terms.

Disguising the origin of messages or transmissions sent to BloFin is prohibited under section 6.2. Section 6.5 allows the exchange to freeze an account, claw back profits and report the user to law enforcement.

What BloFin can do to accounts in restricted countries

An account that breaches BloFin's rules can be frozen, closed or handed over under its terms. Users then have only a short withdrawal window.

• Suspension: Under section 8.1, suspected breaches of the terms or any law allow BloFin to suspend an account and freeze its funds.
• Termination: Section 8.2 permits BloFin to close an account at any time, for any reason.
• Withdrawal window: Any outstanding charges become due immediately after suspension or termination. Section 8.4 then gives the user five business days to withdraw.
• Disclosure: Section 8.5 allows BloFin to pass account assets and data to law enforcement and government agencies during investigations.
• Dormant accounts: With 15 days' notice, BloFin may close open positions, convert holdings into another asset and charge a monthly fee under section 8.7.

The risks of using BloFin from a restricted country

Using BloFin from a restricted country risks losing account access and most legal remedies. Trading with leverage adds the possibility of losing everything committed to a position.

The money put up for a leveraged trade is called margin. Leverage allows the trader to control a position larger than that amount.

At 10 times leverage, a price move of about 10% against the trade wipes out the margin. The exchange then automatically closes the position through a liquidation. Our liquidation price calculator shows where a given position would close. Forced closures across futures markets appear on the crypto liquidations dashboard.

Legal protection is limited by confidential arbitration in Hong Kong and a liability cap of three months' fees. BloFin also describes no licence in the EU, the UK, the US or Australia.

Access can also end abruptly. Section 8.2 permits termination for any reason, and regulatory action in India and South Korea has cut off access to the platform's apps and website in those countries.