KuCoin Restricted Countries and Regulation Explained

Residents of 16 locations cannot use KuCoin's global exchange. These include the United States, mainland China, Singapore, France and the Netherlands. Article 17(5) of KuCoin's Terms of Use, last updated on 29 Sep 2026, sets out the list and allows KuCoin to extend it at its sole discretion.

Local registrations belong to separate KuCoin companies. In Australia, a company is registered with the anti-money laundering regulator. A Brazilian company operates under the central bank's transition rules, while an Austrian company holds an EU licence that its regulator has not yet allowed it to use.

In our ranking of 16 crypto exchanges, KuCoin places 11th with a score of 6.8 out of 10. Security and regulation account for 55% of the ranking's weight. It was last checked on 7 Oct 2026.

Which countries KuCoin restricts

KuCoin's contract bars residents of the following locations from opening or keeping an account on kucoin.com.

Anyone on a sanctions list maintained by the Turks and Caicos Islands or under international conventions is excluded under Article 17(6). Users must also confirm that using KuCoin is legal where they live, as required by Article 17(7).

Why these places are on the list

The terms do not explain individual entries. Regulatory records provide context for several:

• United States: A 2025 criminal plea required KuCoin to leave the US market. A court has since permanently barred US access.
• Ontario: In 2022, an Ontario Securities Commission tribunal permanently banned KuCoin's operators from Ontario's capital markets.
• Malaysia: On 4 Oct 2021, the Securities Commission Malaysia added KuCoin to its Investor Alert List, which records unauthorised firms.
• France and the Netherlands: Both are EU members. KuCoin now directs their residents to its separate Austrian company.

Markets missing from the list where KuCoin still faces limits

Absence from Article 17(5) does not guarantee access for new users. As of 28 Oct 2026, KuCoin or a regulator had restricted access in each market below.

Which KuCoin company serves each region

Your contract names the KuCoin company responsible for your account. That determines which regulator, if any, oversees it and where you can take a complaint.

In January 2025, the US Justice Department described Peken Global Limited as Seychelles-based. The Commodity Futures Trading Commission described it as incorporated in the Turks and Caicos Islands in March 2026.

Peken Global is not licensed, registered or authorised to conduct virtual asset activities in or from the Turks and Caicos Islands, according to the islands' Financial Services Commission. The regulator issued that public statement on 14 Nov 2025. KuCoin's terms nevertheless place the contract under Turks and Caicos law, with disputes referred to the Singapore International Arbitration Centre.

KuCoin regulation in the United States and Canada

A court order bars Americans from using KuCoin until it registers with US derivatives regulators.

United States

On 27 Jan 2025, Peken Global pleaded guilty to operating an unlicensed money transmitting business. It agreed to pay more than $297 million, comprising a $184.5 million forfeiture and a criminal fine of about $112.9 million.

Between 2017 and March 2024, KuCoin served about 1.5 million US users and earned at least $184.5 million in fees from them, prosecutors said. Identity checks were not required until at least July 2023. The plea required KuCoin to leave the US market for at least two years. Co-founders Chun Gan and Ke Tang also gave up any role in running the exchange.

US futures and other derivatives fall under the Commodity Futures Trading Commission (CFTC). Derivatives are contracts whose value follows another asset. On 30 Mar 2026, a federal court in New York entered the CFTC's consent order, requiring Peken Global to pay a $500,000 civil penalty. The order permanently bars it from allowing US participants to trade on KuCoin unless it registers as a foreign board of trade. Overseas exchanges need that status to give Americans direct access.

New York had taken action earlier. In December 2023, the state's Attorney General secured more than $22 million from KuCoin, including refunds of $16.7 million to New York investors and a $5.3 million payment to the state. KuCoin was also required to block New Yorkers from its platform.

State-licensed alternatives are listed in our guide to crypto exchanges in the United States.

Canada

Only Ontario and British Columbia appear on KuCoin's list of restricted Canadian provinces. The Ontario ban dates to June 2022, when a Capital Markets Tribunal panel imposed a permanent market participation ban on operators Mek Global Limited and PhoenixFin Pte. Ltd. They had allowed Ontario investors to trade securities without a prospectus, the disclosure document required under Canadian law.

KuCoin's terms leave the rest of Canada open, although its operator is contesting a federal penalty. On 28 Jul 2025, Canada's financial intelligence agency, FINTRAC, imposed a penalty of $19,552,000 in Canadian dollars on Peken Global. FINTRAC found that KuCoin had operated as a foreign money services business without registering. It had also failed to report large virtual currency transactions and, in 33 instances, suspicious transactions.

The penalty is under appeal to the Federal Court of Canada. Our guide to crypto exchanges in Canada covers locally registered alternatives.

KuCoin's MiCA licence and EU status

New customers in the European Economic Area (EEA) have no KuCoin platform to join. KuCoin holds an EU licence, but its regulator has not yet permitted it to use that licence.

The EU's Markets in Crypto-Assets Regulation, known as MiCA, licenses crypto-asset service providers (CASPs). Through passporting, a firm can use one licence to serve every EEA country. KuCoin EU Exchange GmbH received its CASP licence from the FMA on 27 Nov 2025.

In its announcement the following day, KuCoin said the licence covers 29 EEA countries, excluding Malta. The release also said EEA users could no longer register on the global platform.

What the FMA has prohibited

A ban on KuCoin EU taking on new business began on 19 Feb 2026. The company no longer had an anti-money laundering officer or a sanctions compliance officer, nor deputies for those roles. Once the positions were filled, the FMA lifted that ban, as its notice of 18 May 2026 explains.

A separate decision dated 18 Feb 2026 remains in force. Under that decision, the start of business operations is still inadmissible because governance requirements and further senior management roles remain unmet.

KuCoin EU appealed the new business ban in March 2026. The company's update of 30 Jun 2026 said its licence remained valid and services had not resumed. Customers could withdraw their assets at any time.

How the end of the MiCA transition affects EU residents

The MiCA transition period ended on 1 Jul 2026, requiring unlicensed crypto firms to stop serving EU clients. In a statement of 23 Jun 2026, the European Securities and Markets Authority (ESMA) said firms based outside the EU cannot provide MiCA services to EU clients or solicit them.

ESMA describes one narrow exception, called reverse solicitation, where a client approaches an outside firm on their own exclusive initiative. Clients who do so lose MiCA's protections for client assets.

Platforms with licences already in use appear in our ranking of MiCA-licensed crypto exchanges in Europe.

Where the UK stands

KuCoin's restricted list does not include the United Kingdom. The UK's financial regulator, the Financial Conduct Authority (FCA), set 30 Sep 2026 as the opening date for applications to its crypto regime. That regime starts on 25 Oct 2027, when firms operating crypto trading platforms for UK customers will need its authorisation.

KuCoin regulation in Asia-Pacific

Since KuCoin Thailand stopped trading in January 2026, Australia has been the only Asia-Pacific country with a registered local KuCoin exchange. Elsewhere in the region, KuCoin faces regulatory penalties and warnings, as well as access blocks.

Australia

KuCoin's Australian exchange is operated by Axis One Markets Pty Ltd, which holds AUSTRAC registration DCE-100844683-001. This digital currency exchange (DCE) registration covers exchanges of money for crypto.

For derivatives, Axis One acts as a corporate authorised representative of Echuca Trading Pty Ltd. Echuca holds Australian financial services licence (AFSL) 297499 from the corporate regulator ASIC and issues the derivatives listed on KuCoin's Australian site. The AUSTRAC registration was announced by KuCoin on 25 Nov 2025.

On 8 Apr 2026, the Corporations Amendment (Digital Assets Framework) Act 2026 became law. It brings platforms holding customers' digital assets into ASIC's financial services licensing system. Locally registered platforms are compared in our ranking of crypto exchanges in Australia.

India

Indian customers use KuCoin's global exchange following a dispute with FIU-IND, the country's financial intelligence unit. An order dated 22 Mar 2024 records that FIU-IND issued a notice on 28 Dec 2023 over KuCoin serving Indian clients without meeting its obligations under the Prevention of Money Laundering Act.

Peken Global received a penalty of Rs 34,50,000 for breaching Section 12(1) of the Act. KuCoin subsequently registered with FIU-IND as a reporting entity, a status that requires it to report suspicious transactions.

Thailand

ERX Co., Ltd., a locally licensed exchange, relaunched under the KuCoin brand in April 2025, trading as KuCoin Thailand. In January 2026, Thailand's Securities and Exchange Commission (SEC) ordered ERX to suspend business because it had failed to maintain the required capital. The SEC instructed it on 5 Feb 2026 to address the shortfall and rebuild its board of directors.

Customers were asked to withdraw their assets by 22 Apr 2026. Three days after that deadline, KuCoin Thailand announced it was returning its digital asset exchange licence to the Ministry of Finance. Any balances left after 1 May 2026 incur monthly custody fees.

South Korea

KuCoin's website is now blocked in South Korea. On 13 Oct 2026, the Financial Intelligence Unit (FIU) said it had secured approval to block domestic access to 27 unregistered platforms, including KuCoin, Cointelegraph reported.

Foreign exchanges serving Korean customers must hold an information security certification and report to the FIU, according to SBS Biz. KuCoin is not registered. Earlier measures had already targeted its app. Google Play and Apple's App Store blocked new installs in Korea from March and April 2025. The FIU urged users of unregistered platforms to withdraw their assets and said Korea's exchange alliance would help.

Japan

On 26 Mar 2026, Japan's Kanto Local Finance Bureau warned KuCoin over soliciting over-the-counter derivatives trades online without registration. These are trades agreed directly with the platform.

Japan does not appear on KuCoin's restricted list. KuCoin told Cointelegraph that it is not registered with Japan's Financial Services Agency and operates no licensed company in the country.

KuCoin regulation in Dubai and emerging markets

Dubai has penalised KuCoin's operator for serving residents without a licence. Local approval is being sought in Nigeria, Brazil and Turkey.

Dubai

An investor and marketplace alert issued on 5 Mar 2026 by Dubai's Virtual Assets Regulatory Authority (VARA) named four KuCoin companies. VARA said KuCoin had no licence to provide virtual asset services in or from Dubai, and no KuCoin promotion had been approved there.

In a subsequent notice of fines dated 24 Jun 2026, VARA found that Peken Global had provided broker-dealer or exchange services to Dubai customers without a licence. It ordered the company to cease all unlicensed activity. The fine amount was not published. VARA said Peken Global cooperated fully.

Nigeria

KuCoin Nigeria Limited received clearance from Nigeria's Securities and Exchange Commission (SEC Nigeria) on 3 Jul 2026 to enter its Accelerated Regulatory Incubation Programme (ARIP). This supervised testing scheme admits crypto firms before full registration.

The approval in principle accompanying admission is conditional, according to KuCoin's release of 13 Oct 2026. KuCoin Nigeria cannot yet begin operations or take on clients, and it may not offer services to the Nigerian public.

Brazil

A separate contract applies to Brazilian residents, whose accounts are with KuCoin Brasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda. The company's Terms of Use, updated on 23 Sep 2026, describe it as a virtual asset broker under Central Bank of Brazil rules. They also repeat the global list of 16 restricted locations.

Those rules were published on 10 Nov 2025 as Resolutions 519, 520 and 521 and took effect on 2 Feb 2026. KuCoin Brasil's terms say it was already operating by that date and will request authorisation within the deadline. It may continue serving customers while the request is pending.

According to Capital Aberto's report on the deadline, providers in this position must submit the first stage of their application by 30 Oct 2026. Our guide to crypto exchanges in Brazil compares platforms serving Brazilian customers.

Turkey

In August 2025, KuCoin TR, a Turkish company working with KuCoin, submitted a licence application to Turkey's Capital Markets Board (SPK). KuCoin's release says this placed KuCoin TR on the board's list of operating firms. The release also notes that Turkish rules adopted in March 2025 prohibit high-risk products such as trading with borrowed money.

How KuCoin enforces its country restrictions

Identity documents and connection location are both checked by KuCoin. Its terms allow it to freeze accounts that breach the residency rules.

Know your customer (KYC) identity verification has been mandatory for new and active users since August 2023, according to the US Justice Department's account of the case. Under Article 15, users must provide their name and contact details, including an email address and phone number, along with their nationality and identity card number.

The Terms of Use give KuCoin several powers to enforce these rules:

• Location blocks: Article 49A allows access restrictions for internet addresses associated with restricted places. Travelling to one of those locations can prevent a user from trading or managing open positions.
• Account suspension: A breach of the residency rule can lead to suspension under Article 19. KuCoin may deny access to some or all account functions, including digital assets.
• Termination without notice: Article 36 permits KuCoin to suspend or close an account and seize illicit profits without first notifying the user.
• Sudden loss of access: Article 62(8) warns that location restrictions may make accounts inaccessible without notice.

A virtual private network (VPN) hides the internet address visible to a website, but it does not change the passport or address on a KuCoin account. Article 49A(6) prohibits VPNs, proxy servers and any other tools used to disguise a user's location.

The risks of using KuCoin from a restricted country

KuCoin can freeze an account opened from a restricted location at any time. Its contract also limits what the account holder can recover.

Under Article 57 of the global Terms of Use, KuCoin's total liability for a breach is capped at the service fees charged for the transaction concerned. Article 51(10) excludes liability for losses arising from regulatory access restrictions, account suspensions or asset freezes.

Proof of reserves shows how much of each coin an exchange held against customer balances on a particular day. In KuCoin's snapshot of 30 Sep 2026, reserve ratios were 109% for Bitcoin and 117% for Ether. The ratios for the dollar-pegged stablecoins USDT and USDC were 110% and 127%, respectively. KuCoin's wallets held about 7,994 BTC against customer balances of about 7,359 BTC.

Our tracker recorded KuCoin's Bitcoin wallet balance at 8,233 BTC on 28 Oct 2026. Proof of reserves excludes loans and other debts. In March 2023, the PCAOB, the US audit regulator, warned investors that these reports are not audits.

The global platform also offers perpetual futures, contracts that track a coin's price without an expiry date. Traders usually use leverage to open these positions, borrowing to hold a position larger than their own contribution, known as margin. If the price moves far enough against them, the exchange closes the position through a forced sale called liquidation. The trader can lose the entire margin.

For a given entry price, leverage and margin, our liquidation price calculator shows the price at which an exchange would close the position.