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4h ago

Binance Will Block Transfers With HTX and 10 Other Platforms From Aug. 23

The move enforces recent EU, UK and U.S. sanctions by targeting counterparties rather than coins and signals stricter, transaction‑level compliance across major exchanges.

Binance
Photo: Bretwa / Wikimedia Commons / CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)
Binance blocks htx and exmo. sixteen platforms cut off amid sanctions push
Photo: CZRcenter / Wikimedia Commons / CC BY 4.0 (https://creativecommons.org/licenses/by/4.0)

Overview

  • Binance announced on Aug. 14 that it will stop processing deposits and withdrawals involving HTX and ten named platforms from Aug. 23, joining five entities already restricted and bringing the total affected to 16.
  • The restriction targets the counterparty behind a transfer instead of delisting cryptocurrencies, and Binance said transactions may be held for compliance review while related wallets face temporary restrictions.
  • Market effects are already visible: liquidity providers have pulled back from HTX and its ETH order book has thinned, which raises the risk of larger price moves and broken arbitrage between venues.
  • Regulators set the stage with the EU’s 21st sanctions package and prior UK and U.S. designations, and blockchain analytics firms have traced large flows and rapid hot‑wallet changes that make fixed address blacklists less effective.
  • Exchanges including OKX, Bybit and Bitget are updating policies and shifting toward behavior‑based screening, creating short windows for fund movement and extra custody and liquidity friction for users of designated platforms.