Cryptocurrency exchange Bitget announced plans to close certain cryptocurrency accounts following an update to its terms of use dated 16 October, in which Russia, Belarus and Kazakhstan are listed among the countries whose clients cannot access its services.
In a statement dated 17 October on the X exchange, the exchange confirmed that affected clients will receive individual notifications explaining when they need to stop trading, close positions and withdraw their remaining funds. Bitget described the measure as a "one-time action for certain users only" and said its trading platform will continue operating.
The announcement did not specify how many users will lose access, and no single deadline was set. Clients who did not receive a notice of access termination may continue using their accounts provided they comply with the exchange's requirements.
Bitget adds Russia and Belarus to the list of countries subject to restrictions
Under the exchange's updated terms dated 16 October, individuals residing in, registered in or operating from prohibited jurisdictions are classified as restricted users. The latest list includes Russia and Belarus, as well as Kazakhstan, which appeared in earlier versions of the agreement.
Under Bitget's rules, clients must confirm that they are not persons subject to restrictions and are not accessing the services from locations where trading is prohibited under the terms of the agreement. The agreement applies to both individuals and legal entities, with separate provisions covering sanctions and other legal restrictions.
The list also includes Canada, the United States, France, Germany, Japan and Singapore. The October edition did not introduce new restrictions for clients across all of these markets, and the updated document does not specify which existing users will receive contract termination notices.
In response to a question about Russian clients, Bitget's official support account referred to the list of countries where use of the service is prohibited and pointed to compliance with the regulatory requirements of various jurisdictions.
Neither the exchange's public statement nor its terms specified any particular government directive requiring the closure of the latest accounts. Bitget did not explain whether the decision was driven by a change in its regulatory compliance policy, a licensing issue or other regulatory considerations.
The restrictions concern access to Bitget's services under the published agreement. They do not mean that owning or trading cryptocurrency is prohibited by the governments of each country on the list.
Some Bitget users will have to withdraw their funds by 21 October
Affected users are contacted via email, in-app messages and push notifications. Bitget said these messages will specify the deadlines and withdrawal procedures applicable to each account.
According to the instructions received, clients must close their outstanding positions and withdraw their assets by 10:00 Moscow time on 21 October. Positions that remain open after this deadline will presumably be closed automatically, and access to the account will be restricted.
One user, posting under the nickname FrontMan, separately reported receiving a service termination notice on 21 October. The message mentioned receiving a direct notification from the exchange, although the authenticity of this notice was not confirmed by independent sources.
Bitget did not publish these dates as a standard schedule in its main announcement. Therefore, clients who receive contract termination notices must follow the deadlines specified in the messages sent through their personal accounts.
The exchange said its customer support service will remain available to assist with fund withdrawals and the processing of pending orders during the closure. It confirmed that users' funds are safe, without announcing a separate balance verification specifically for the affected accounts.
Clients who did not receive an official notice were told they can continue using their accounts under the existing terms.
Bitget warned users to check correspondence through its official website, app and verified channels. In its statement of 17 October, the company also warned about phishing links and impersonation attempts.
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