CoinEx Supported and Restricted Countries

CoinEx Restricted Countries

CoinEx services are restricted in a few countries, as stated in their official Terms of Service. Users from these regions are prohibited from accessing the platform, and any attempts to bypass these restrictions, including the use of VPNs, are strictly forbidden.

List of countries where CoinEx does not provide services:

• United States: Banned after legal action by the New York Attorney General (NYAG) and increasing regulatory pressure from the SEC, CFTC, and DOJ for operating without proper registration
• Canada: Blocked following new regulations by the Canadian Securities Administrators (CSA), requiring all crypto trading platforms to register and comply with strict investor protection rules.
• Hong Kong SAR: Restricted due to the Securities and Futures Commission (SFC) mandating that all crypto exchanges serving local users must obtain a license and comply with stricter compliance.
• People’s Republic of China: Completely banned under the 2021 nationwide crypto crackdown, where the People’s Bank of China (PBoC) deemed all cryptocurrency transactions illegal.

Users from these locations should be aware that CoinEx does not make exceptions to these restrictions, and attempts to bypass them could result in account suspension or legal consequences.

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What Countries Does CoinEx Support?

CoinEx is available in 200+ countries and regions, providing spot trading, perpetual contracts, margin trading, AMM, crypto loans, strategic trading, and financial management services. The platform supports 18 languages, allowing users from different backgrounds to trade without barriers.

CoinEx allows transactions in 60 fiat currencies, including USD, EUR, GBP, ARS, BRL, NGN, PHP, MYR, TRY, and UAH, making it easier for people worldwide to buy and sell crypto. This wide fiat coverage helps keep the market active and accessible.

According to Similarweb data, the exchange gets 3.7 million visits each month, with the most traffic coming from Russia (14.53%), India (7.88%), Brazil (6.63%), Japan (6.06%), and the Philippines (5.38%).

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Is CoinEx Available in the US?

CoinEx is not available in the United States, as it officially terminated services for U.S. users following legal action by the New York Attorney General (NYAG). U.S. residents cannot register for new accounts, and existing users can only withdraw funds but cannot trade on the platform.

As part of a legal settlement in June 2023, CoinEx agreed to block all U.S. users, enforce geo-restrictions, and pay $1.8 million in penalties. The platform does not allow any workarounds, and attempts to access CoinEx from the U.S. may result in account restrictions.

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CoinEx Licenses and Regulations

Public information on CoinEx’s regulatory status is limited and scattered, but based on our research, the exchange holds an FIU license in Estonia and a VASP license in Poland. It previously had a U.S. MSB license, but this was revoked after legal action.

Current and previous CoinEx licenses:

• Estonia: Financial Intelligence Unit (FIU) license since November 2019, allowing fiat-to-crypto exchange and wallet services.
• Poland: Virtual Assets Service Provider (VASP) license secured in May 2024, enabling access to the EU market under MiCA regulations.
• United States: Lost its MSB license after its New York lawsuit in 2023 and is no longer listed in FinCEN’s MSB database under its previous registration number "31000205450387".

The Thailand SEC has warned that CoinEx lacks a digital asset business license, meaning Thai users have no legal protections when using the platform.

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Does CoinEx Require KYC?

CoinEx lets users trade without KYC verification, allowing access to spot trading, margin trading, futures, and financial accounts. Verified users get a higher 24-hour withdrawal limit, increasing from $10,000 to $1,000,000, and can join all promotional events.

To verify identity, users must submit a passport, ID card, or driver’s license, along with a selfie holding the document and a handwritten note with "CoinEx" and the date. Some users may also need to complete face recognition or additional manual review, depending on their country and document type.

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About CoinEx

CoinEx is a leading no-KYC crypto exchange founded in 2017 and based in Hong Kong. The platform supports 1,300+ cryptocurrencies and offers a variety of trading products, including spot trading, perpetual contracts, copy trading, and crypto loans.

It maintains a 100% proof-of-reserve policy, with $810.9 million in total assets held in wallets to ensure user fund security. CoinEx also features its native token, CET, which operates on a deflationary model, with 72.61% of the total supply already burned through monthly buybacks.

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Final Thoughts

CoinEx is accessible in more than 200 countries but remains banned in major financial markets like the U.S., Canada, Hong Kong, and China due to regulatory restrictions. The platform enforces strict geo-blocking, preventing users in restricted regions from accessing its services.

With its no-KYC model, broad fiat support, and 100% proof-of-reserve policy, CoinEx continues to draw traders worldwide. However, users should carefully consider local regulations and potential legal risks before using the exchange.