Security Compliance
KuCoin offers two-factor authentication and has tightened compliance considerably since its early years. Its history still matters though: $275 million was stolen by North Korean hackers in 2020, with about $200 million recovered, and in 2025 its operator pleaded guilty in the US to anti-money-laundering failures. If you somehow still have funds on the exchange, move them to a private crypto wallet.
To secure an Uphold account, users enable two-factor authentication, which Uphold requires before funds can be transferred. The platform keeps around 90% of digital assets in cold storage and has never suffered a sitewide hack. For former Canadian users, the more pressing security matter is retrieving stranded balances before unclaimed property rules kick in.
KuCoin offers two-factor authentication and has tightened compliance considerably since its early years. Its history still matters: $275 million was stolen by North Korean hackers in 2020, with about $200 million later recovered — one of the largest exchange hacks on record. In 2025 its operator pleaded guilty in the US to anti-money-laundering failures with ~$297 million in penalties. If you still have funds on the exchange, move them to a private crypto wallet — but note that incoming transfers from KuCoin may be blocked by regulated Canadian exchanges, so withdraw to your own wallet first and then transfer from there.
To secure an Uphold account, users enable two-factor authentication, which Uphold requires before funds can be transferred. The platform keeps around 90% of digital assets in cold storage and has never suffered a sitewide hack. For former Canadian users, the more pressing security matter is retrieving stranded balances before unclaimed property rules kick in.
KuCoin has tightened its security posture post-2020 but its $275M hack history and US guilty plea are major red flags regardless of geography. Uphold keeps roughly 90% of assets in cold storage and mandates 2FA — a cleaner security record. Neither platform's security is relevant to Canadians going forward since neither is accessible.
Regulatory Compliance
KuCoin is banned in Canada. After ignoring OSC proceedings entirely, KuCoin received a permanent ban from Ontario's capital markets in June 2022 along with the maximum penalties the tribunal could impose, about $2 million plus costs, and the CSA lists it as a banned platform nationwide. Mandatory KYC since July 2023 means there is no longer any workaround, and using a VPN violates KuCoin's own terms with the risk of frozen funds and zero consumer protection or legal recourse in Canada. This is a hard no for Canadians, not a grey area.
Uphold is regulated in the USA and compliant with the Office of Foreign Assets Control (OFAC) and Bank Secrecy Act (BSA) record-keeping requirements. However, it is no longer Canadian-friendly: Canada appears on Uphold's non-supported jurisdictions list, and Canadian accounts were wound down in 2025. Uphold has publicly stated it's working on plans to return to Canada, but no timeline has been announced.
KuCoin is banned in Canada. After ignoring OSC proceedings entirely, KuCoin received a permanent ban from Ontario's capital markets in June 2022 along with the maximum penalties the tribunal could impose — about $2 million plus costs. The CSA lists it as a banned platform nationwide. Mandatory KYC since July 2023 means there is no longer any workaround: verification requires ID from a supported country, and Canada isn't one. Using a VPN violates KuCoin's own terms, with the risk of frozen funds and zero consumer protection or legal recourse in Canada.
Uphold is regulated in the USA and registered with FINTRAC as a Canadian MSB, but it is no longer operating in Canada: Canadian accounts were wound down in June 2025, and any remaining crypto was auto-converted to CAD by September 8, 2025. Uphold has publicly stated it's working on plans to return to Canada, but no timeline has been announced.
KuCoin is permanently banned from Canadian capital markets and is not registered with Canadian securities regulators. Uphold retains its FINTRAC MSB registration but no longer serves Canadian users.
Customer support
KuCoin offers FAQs, an online ticketing system and 24/7 live chat for users in supported countries. For Canadians the only relevant support scenario is recovering legacy funds, and be prepared for friction, since closed-jurisdiction withdrawals often involve extra verification steps.
Uphold offers help centres on its website and in-app, with support via an online ticketing system. If you're a former Canadian customer trying to recover funds, their Canadian services withdrawal help page is the place to start, and be patient, as reviews frequently mention slow, message-only support with replies taking days.
KuCoin offers FAQs, an online ticketing system and 24/7 live chat for users in supported countries. For Canadians the only relevant support scenario is recovering legacy funds, and be prepared for friction since closed-jurisdiction withdrawals often involve extra verification steps.
Uphold offers help centres on its website and in-app, with support via an online ticketing system. If you're a former Canadian customer trying to recover funds, their Canadian services withdrawal help page is the place to start, and be patient, as reviews frequently mention slow, message-only support with replies taking days.
Neither platform's ongoing support is relevant to Canadians. Both are relevant only for the specific scenario of recovering legacy funds — and both present friction in that process.
Conclusion
From a Canadian perspective, there is nothing to choose between KuCoin and Uphold — neither is available. KuCoin is permanently banned in Canada by the CSA, hacked for $275 million in 2020, and its operator pleaded guilty in the US in 2025. Uphold exited Canada in June 2025, with any remaining crypto auto-converted to CAD by September 8, 2025.
If you have legacy funds on KuCoin, withdraw them to your own wallet immediately — do not transfer directly to a regulated Canadian exchange, as some platforms block incoming transfers from KuCoin. Route through your own wallet first.
If you have unclaimed CAD balances on Uphold, log in and withdraw via Interac before unclaimed property laws apply. If you used Uphold Vault, use the Vault Recovery Site promptly — Uphold only keeps its copy of the Vault key for 12 months after account closure.
For Canadians looking for a regulated alternative with a broad coin range, we recommend Kraken (200+ coins, nationally registered restricted dealer since April 2025), Crypto.com (400+ coins, restricted dealer since May 2025), or Wealthsimple Crypto (140+ coins, Canada's only CIRO investment dealer). All three are fully legal, well-regulated and accept free Interac deposits. See our full list of the best crypto exchanges in Canada for more options.
