Major cryptocurrency exchange Binance has announced it will halt all transaction processing involving HTX and 10 other crypto platforms starting August 23, aligning its compliance framework with the European Union’s latest sanctions package. The sweeping restriction means any funds sent to or from these blacklisted entities after the cutoff date will face immediate compliance reviews and potential asset freezes.
The European Union and UK Crackdown
The directive stems directly from Brussels rather than an internal Binance policy. On July 23, the European Union adopted Council Regulation 2026/1848, targeting 14 cryptocurrency and payment platforms accused of helping circumvent restrictions. Eleven of these entities, including HTX (Huobi Global SA), Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease, BitPapa, Exnode Pay, and EXMO Ltd., face an outright transaction ban effective August 23. Meanwhile, platforms like Shelbit and Aban Tether were cut off earlier on August 7 due to separate U.S. Treasury Department measures linking them to Iranian networks.
Why HTX and Major Exchanges Are Targeted
HTX, formerly known as Huobi, has faced intense regulatory scrutiny globally. On May 26, the United Kingdom froze the assets of Huobi Global S.A. over allegations of providing financial services to A7 LLC and Garantex Europe OU—entities tied to sanctioned politicians and Russian state banks reportedly moving over $90 billion annually. Furthermore, the Financial Conduct Authority (FCA) sued HTX in London’s High Court regarding illegal financial promotions, with Steve Smart, the FCA’s joint executive director of enforcement, criticizing the exchange’s stark lack of compliance.
What This Means for Traders and User Funds
While Binance clarified that this is not a traditional token delisting and spot trading remains unaffected, users can no longer legally route funds through these secondary channels. On-chain investigators warn that these sweeping international orders complicate risk scores for ordinary wallets. With HTX boasting millions of registered accounts, affected traders must adapt quickly to avoid compliance traps and potential fund immobilization as regulatory enforcement tightens globally.
