Binance will stop transactions involving HTX, EXMO and nine other crypto platforms from August 23. The exchange cited recent regulatory developments as it expands compliance restrictions across several markets.
Binance Sets August 23 Transaction Restrictions
Binance said the August 23 restrictions will cover HTX, formerly Huobi, alongside Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode and EXMO. The exchange cited changes in regulatory requirements and protection of user assets for the decision.
Users should avoid sending crypto to the affected platforms or receiving assets from them. Binance may review transactions linked directly or indirectly to these companies. The exchange may also restrict related wallets while it completes compliance checks.
Similar measures already apply to several other platforms. Restrictions on Shelbit and Aban Tether Exchange started on August 7. Binance added A7 Nigeria, A7 Africa and PilotFinance Ltd to the list on August 13.
HTX Faces Sanctions-Related Restrictions
The European Union added HTX to a sanctions package targeting Russia in July. The UK government had already designated Huobi Global S.A. in May. UK authorities cited suspected financial services or resources provided to A7 LLC and Garantex Europe OU.
HTX challenged the scope of the UK action. The company said the designation covered Huobi Global S.A. as a separate legal entity. HTX also maintained that the measure did not affect its online exchange or customer funds.
The UK’s Office of Financial Sanctions Implementation later took a different position. The agency said the sanctions also covered the HTX exchange because Huobi Global owns the platform.
TRM Labs separately raised concerns about frequent movements between HTX wallet addresses. The firm reported that some addresses operated for only several hours before activity moved elsewhere. Such changes can make screening based on fixed address lists harder.
HTX rejected claims that the wallet movements aimed to avoid sanctions screening. A company spokesperson described the transfers as routine security procedures used across the crypto industry.
Binance Expands Crypto Compliance Measures
Earlier restrictions on Shelbit and Aban Tether followed U.S. sanctions announced on August 7. U.S. authorities accused both platforms of handling cryptocurrency linked to Iranian sanctions-evasion networks.
Authorities said wallets linked to Iran’s Islamic Revolutionary Guard Corps sent more than $1 million to Shelbit addresses. They also alleged that Shelbit-linked wallets transferred over $2 million to addresses controlled by the organization.
U.S. authorities separately accused Aban Tether of processing millions of dollars involving sanctioned Iranian crypto exchanges. Those platforms included Nobitex, Wallex, Bitpin and Ramzinex.
Binance may hold transactions attempted after each restriction date for additional review. The exchange can also restrict affected wallets until its compliance teams complete those checks.
For those seeking compliant platforms amid changing EU rules can explore the best regulated crypto exchanges in Europe for their trading needs.