Binance to restrict transactions involving HTX, 10 other crypto platforms
Binance said it will stop processing transactions for involving 11 crypto platforms, including HTX, which was recently listed in the EU’s sanctions package targeting Russia.
Binance has announced it will restrict transactions involving 11 cryptocurrency platforms, including HTX, the exchange formerly known as Huobi. The world's largest crypto exchange by trading volume confirmed it will cease processing transactions connected to these platforms, though the company has not publicly disclosed the complete list of all 11 entities affected by the decision.
The move follows the European Union's recent sanctions package targeting Russia, which included HTX among its designated entities. The EU's sanctions regime, part of ongoing efforts to limit financial workarounds that could benefit sanctioned individuals or entities, has prompted compliance responses across the broader crypto industry. HTX, which has faced regulatory scrutiny in multiple jurisdictions in recent years, was explicitly named within the latest EU measures.
The restriction signals a continued tightening of compliance standards among major centralized exchanges operating under regulatory pressure from Western authorities. For Binance, which has itself navigated significant legal and regulatory challenges globally, the decision reflects an effort to align operations with international sanctions frameworks. Industry observers note that similar compliance-driven de-platforming actions could become more frequent as regulators expand their oversight of crypto's intersection with geopolitical sanctions.
Users and partners connected to the affected platforms will need to monitor Binance's official communications for specific timelines and operational details regarding the restrictions. The broader industry will be watching whether additional exchanges follow with comparable measures in response to the EU's expanded sanctions list.
Source: Cointelegraph
