{"id":83731,"date":"2023-08-29T16:55:00","date_gmt":"2023-08-29T13:55:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83731"},"modified":"2025-09-12T13:00:06","modified_gmt":"2025-09-12T10:00:06","slug":"kucoin-and-okx-tighten-p2p-trading-for-russians","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/kucoin-and-okx-tighten-p2p-trading-for-russians\/","title":{"rendered":"KuCoin and OKX tighten P2P trading for Russians"},"content":{"rendered":"<p>On 29 August, cryptocurrency exchanges KuCoin and OKX updated their P2P trading rules for Russian users, according to <a href=\"https:\/\/www.rbc.ru\/crypto\/news\/64edd4ad9a7947bdb0cf1f89\">RBC<\/a>.<\/p>\n<p>KuCoin has prohibited operations with U.S.-sanctioned banks Sberbank and Tinkoff, as notified in a letter. Buying or selling cryptocurrencies is possible only through bank transfers and via payment services.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/346933083119903.webp\" alt=\"346933083119903\" class=\"wp-image-214617\"\/><figcaption class=\"wp-element-caption\">Screenshot of the KuCoin letter received by users. Data: RBC.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cThe use of <a href=\"https:\/\/u1f987.com\/en\/news\/okx-and-bybit-remove-sanctioned-russian-banks-from-p2p-platforms\">Tinkoff<\/a> and\/or <a href=\"https:\/\/u1f987.com\/en\/news\/binance-drops-sber-and-tinkoff-names-amid-us-doj-investigation\">Sberbank<\/a> accounts for receiving fiat currency on the platform is not permitted. If any activity related to P2P transactions of these two banks is detected, KuCoin will suspend the user&#8217;s account,\u201d the letter states.<\/p>\n<\/blockquote>\n<p>In turn, OKX closed ruble trades. Russians, however, still have access to trading other fiat currencies.<\/p>\n<p>Earlier, <a href=\"https:\/\/u1f987.com\/en\/news\/okx-restricts-services-for-russian-citizens\">restricted Russians&#8217; access<\/a> to a number of services. In particular, to the Earn program with an annual yield of more than 99%, as well as the Shark Fin and \u201cDouble Investments\u201d structured products. The company cited \u201cregulatory requirements.\u201d<\/p>\n<p>Recall, <a href=\"https:\/\/u1f987.com\/en\/news\/binance-drops-sber-and-tinkoff-names-amid-us-doj-investigation\">Binance<\/a>, <a href=\"https:\/\/u1f987.com\/en\/news\/okx-and-bybit-remove-sanctioned-russian-banks-from-p2p-platforms\">Bybit and OKX<\/a> removed from their P2P platforms banks under U.S. sanctions\u2014Sberbank, Tinkoff and Alfa-Bank. The first also <a href=\"https:\/\/u1f987.com\/en\/news\/binance-limits-russians-to-p2p-trades-in-rubles-only\">barred Russians from exchanging operations<\/a> with any fiat currencies other than the ruble.<\/p>\n<p>One of ForkLog\u2019s interviewed experts <a href=\"https:\/\/u1f987.com\/en\/news\/in-russia-a-proposal-to-block-binance-over-restrictions-on-russians\">proposed<\/a> considering blocking exchanges introducing restrictions in Russia.<\/p>\n<p>In response, Binance representatives said they are studying the possibility of a complete exit from the jurisdiction <a href=\"https:\/\/u1f987.com\/en\/news\/binance-weighs-potential-exit-from-russia\">. However, experts called such a scenario <a href=\"https:\/\/u1f987.com\/en\/news\/binances-exit-from-russia-deemed-unlikely\">\u201cunlikely\u201d<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 29 August, cryptocurrency exchanges KuCoin and OKX updated their P2P trading rules for Russian users.<\/p>\n","protected":false},"author":1,"featured_media":83732,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1411,1291,27,686],"class_list":["post-83731","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-kucoin","tag-okx","tag-russia","tag-sanctions"],"aioseo_notices":[],"amp_enabled":true,"views":"47","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83731","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83731"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83731\/revisions"}],"predecessor-version":[{"id":83733,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83731\/revisions\/83733"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83732"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83731"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83731"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83731"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}