Binance Announces Transaction Restrictions for HTX and 10 Additional Cryptocurrency Platforms
Starting Aug. 23, Binance will halt transaction processing for HTX alongside 10 other cryptocurrency platforms, referencing recent changes in regulatory landscape.
Beginning Aug. 23, Binance will cease handling transactions associated with cryptocurrency exchange HTX along with 10 additional designated crypto platforms and service providers.
In an announcement made on Friday, the cryptocurrency exchange platform attributed this decision to recent developments in the regulatory environment. Starting from Aug. 23, Binance will discontinue transaction processing for the following platforms: HTX, Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode and EXMO.
Any transactions that users attempt on or following the implementation dates could be placed on hold and subjected to a compliance review process. According to Binance's statement, affected wallets may also face additional restrictions during the ongoing review period.
In late July, HTX, which was previously known as Huobi, was included in the European Union's sanctions package that targets Russia. Additionally, the UK government issued a designation for Huobi Global S.A. in May, stating there were "reasonable grounds to suspect" the entity was supporting Russia's government through the provision of financial services or by making funds and economic resources available to A7 LLC and Garantex Europe OU.
In response to the UK sanctions allegations, HTX issued a denial, asserting that the designation exclusively applies to Huobi Global S.A. as a distinct legal entity and maintaining that its online exchange operations and user funds continue to remain unaffected. However, the UK's Office of Financial Sanctions Implementation subsequently clarified that it regards the HTX exchange itself as being subject to the sanctions due to its ownership by Huobi Global.
On Aug. 7, the US Treasury imposed sanctions on Shelbit and Aban Tether.