Coinex Supported Countries | Where Are They Not Available?
Mike Harry
Feb 2024
4 min read
Fact checked
Introduction: In this breakdown we will explore the list of countries that Coinex supports, as well as those that are prohibited from accessing the exchange. Understanding which countries are allowed or restricted by Coinex is crucial for individuals looking to safely signup and invest in cryptocurrencies!
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
CoinEx offers a diverse portfolio of trading options which includes spot trading, margin trading, and futures trading.
Additionally, it supports over 700 types of cryptocurrencies including leading currencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polkadot (DOT), Cardano (ADA), Tether (USDT), and USD Coin (USDC).
The platform caters to a user base exceeding 2 million users which makes it a smaller exchange as far as market dominance goes.
Some of the countries supported by Coinex include the United Kingdom, Germany, France, Australia, Japan, South Korea, Singapore, and Brazil.
Coinex Restricted & Banned countries
With an expansive team of over 250 employees primarily based in Asia, CoinEx extends its services to the majority of countries worldwide, barring the United States, China, and Canada.
Is Coinex licensed and regulated?
In 2019, Coinex became a fully regulated cryptocurrency exchange under the Estonian laws.
The license enables CoinEx to provide services of exchanging a virtual currency against a fiat currency, as well as a virtual currency wallet service.
In 2021, CoinEx had its application for the US MSB license approved by the Financial Crimes Enforcement Network (FinCEN), and officially obtained the MSB license (registration number: 31000205450387).
Is Coinex available in the US?
At the time of this writing, Coinex is not directly available for users residing in the United States. Coinex has made the decision to exclude US customers due to the complex regulatory environment and compliance challenges associated with operating in the US.
Many digital currency exchanges have faced scrutiny and legal repercussions for non-compliance with the stringent regulatory requirements set forth by agencies like the SEC and the Financial Crimes Enforcement Network (FinCEN).
Can I use Coinex in the UK?
In the UK, the cryptocurrency industry is regulated by the Financial Conduct Authority (FCA).
To offer cryptocurrency services to UK residents, exchanges must register with the FCA and comply with anti-money laundering (AML) and know-your-customer (KYC) regulations.
As of the time of writing, Coinex is not a registered exchange with the FCA but is nonetheless offering it's services to UK residents.
Can I use Coinex in Canada?
The Canadian government requires exchanges to register as money services businesses (MSBs) with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).
As Coinex is not registered with FINTRAC, it does not have the permission to make it's services available in Canada.
Is Coinex legit?
Yes, Coinex is a legit exchange that is registed with FinCEN in the United States and with the Estonian Financial Intelligence Unit (FIU) in Europe.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
