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Is KuCoin available in the United States? Warning!

Publisher

August 3, 2023
Is Kucoin available in the US united states?

Kucoin is one of the largest crypto exchanges in the world with over 25 million users. Unfortunately, Kucoin is not available to crypto enthusiasts from the United States. As Kucoin does not have a license to operate in the United States, traders from the USA must seek alternative exchanges.

With over 820 different cryptos, a dedicated spot and futures market with over 125x leverage, and a user-friendly interface, Kucoin is the number 1 choice for crypto traders from over 200 different countries. However, there are some areas where Kucoin is not available. In this guide, we will answer the question if Kucoin is available in the United States. We will also debunk some fake news that other people are spreading which will make you lose your funds.

 

Can you use Kucoin in the US?

No, using Kucoin as an American citizen is not possible at all, not even with a VPN. Kucoin is not licensed in the United States and the platform recently made KYC verification mandatory (July 2023). You must verify your identity in order to use Kucoin. As the US is not a supported country by Kucoin, US users can not verify their identity and therefore can not use Kucoin at all.

Without KYC, you can not trade on the exchange. Customers that registered on Kucoin before the 15th of July 2023 and did not complete KYC, can only close their positions. Deposits are closed but withdrawals are still open. If you are a US user of Kucoin, we urge you to close all of your positions and get your funds off the platform as soon as possible.

We have noticed fake news and false information from other websites, claiming that US traders can sign up for a Kucoin account with a VPN. This was the case before the 15th of July 2023, but is not true anymore and the information is outdated!

Check out the official KuCoin statement regarding KYC enforcement for more information.

  1. Starting from July 15, 2023 (UTC), newly registered users must complete their KYC in order to use KuCoin’s products and services.

  2. For users who registered before July 15, 2023 (UTC), if their KYC is not completed, they will only be able to use services such as Spot trading sell orders, Futures trading deleveraging, Margin trading deleveraging, KuCoin Earn redemption, ETF redemption, and will not be able to use the deposit service (withdrawals are not impacted).

 

Can US citizens use Kucoin with a VPN?

No, citizens from the United States can not use Kucoin at all, not even with a VPN. Kucoin requires KYC verification and US users will not be able to provide any supported documents. Your money will be stuck and you can not use Kucoin with a VPN.

Any source claiming that US traders can use Kucoin with a VPN is outdated and should not be trusted.

 

Is Kucoin legal in the US?

No, Kucoin is not legal in the United States and it can not be used by crypto traders from the US anymore.

 

When will Kucoin be available in the US?

As the United States is known to have an anti-crypto stance, many crypto exchanges had to leave the country. Regulatory uncertainty scared many crypto exchanges away and even drove some crypto exchanges near bankruptcy (e.g. Bittrex).

 

Does Kucoin report to the IRS?

As Kucoin does not offer any services to US customers, the exchange has no reason to report to the IRS. If you are looking for great crypto tax report software, we recommend you check out Koinly.

 

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