MEXC Cites Global Compliance to End Service for Some Users in Russia, Belarus

MEXC linked its plan to end service for users in Russia or Belarus to a global compliance effort and assured customers that their assets remain safe as affected accounts await exit instructions.

The crypto exchange did not name a law, regulator or sanction behind the decision. That explanation adds to the previously announced service wind-down, which has no single cutoff date for all affected users.

MEXC will give each affected customer a schedule and instructions to close positions and withdraw assets. Customers who receive no official notice can continue using MEXC under its terms of service.

MEXC told customers, “Your assets remain safe and secure.” The exchange has not disclosed how many accounts are affected or given a common closure date.

The European Union extended transaction bans to 14 crypto-related platforms in a July 23 sanctions package against Russia. Separately, it created a mechanism to prohibit EU operators from transacting with crypto service providers established in third countries the bloc lists. MEXC has not connected its decision to either measure.

Affected customers’ next step is to follow the timelines and withdrawal procedures in their individual notices.