Binance Restricts Transaction Support for Multiple Crypto Platforms

@Binance is cutting off transaction support for at least 11 crypto-asset service providers, rolling out the restrictions in phased waves through August as the exchange aligns with new regulatory requirements worldwide.

A Phased Rollout of Restrictions

The first wave of restrictions took effect on August 7, targeting Shelbit and Aban Tether Exchange. A second round followed on August 13, blocking transactions with A7 Nigeria, A7 Africa, and PilotFinance Ltd.

Binance will block transactions with HTX, EXMO and additional crypto platforms over compliance rules starting August 23. The August 23 restrictions will also cover Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, and Exnode/Exnode Pay.

Users are advised not to send funds to or receive funds from the affected platforms through Binance once the relevant restrictions take effect, as any attempted transactions after those dates may be held for compliance review. Binance also warned that restrictions could be imposed on impacted wallets while reviews are underway, and that transactions involving the listed entities could potentially violate the exchange's Terms of Use.

EU Sanctions Drive the Action

The move is closely tied to the European Union's 21st Russia sanctions package. The EU identified HTX (Huobi Global SA) among a group of third-country financial institutions and crypto service providers that it said were significantly frustrating restrictions imposed over Russia's invasion of Ukraine. The restrictions aim to disrupt channels that authorities believe have allowed Russian users and entities to move funds and circumvent earlier financial limitations.

Unlike full asset-freeze designations applied to many banks and individuals in the same package, the action against HTX focuses specifically on prohibiting transactions rather than freezing assets. The package designated 218 individuals and entities, making it the largest batch of listings in four years.

The UK had separately sanctioned crypto exchange HTX earlier this year due to alleged ties to Russian sanctions evasion networks and illicit financial activity. HTX has previously maintained that the sanctioned Panamanian-registered company is distinct from its online exchange operations and that regulatory compliance remains a priority across jurisdictions where it is active.

For users on Binance, the practical message is straightforward: any transactions routed through the named platforms after the relevant cut-off dates risk being frozen pending a compliance review. Users should transfer any outstanding balances held on the affected platforms before the deadlines pass.

Sources:
Crypto Briefing: Binance to block transactions with HTX, EXMO and other crypto platforms
The Block: EU adds HTX to Russia sanctions list, barring transactions starting Aug. 23
Crowdfund Insider: EU includes crypto platform HTX in latest Russia sanctions package