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 will stop processing transactions involving crypto exchange HTX and 10 other listed crypto platforms and service providers from Aug. 23.
The cryptocurrency exchange cited recent regulatory developments for the decision in a Friday announcement. Binance will stop processing transactions involving HTX, Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode and EXMO.
Transactions attempted on or after the effective date may be held and subject to compliance review. Binance said restrictions may also be applied to impacted wallets while the review is ongoing.
HTX, formerly Huobi, was added to the European Union’s sanctions package targeting Russia in late July. The UK government also designated Huobi Global S.A. in May, citing “reasonable grounds to suspect” that it supported Russia’s government by providing financial services or making available funds and economic resources to A7 LLC and Garantex Europe OU.
HTX denied the UK sanctions allegations, arguing the designation applies only to Huobi Global S.A. as a separate legal entity and saying its online exchange and user funds remain unaffected. The UK’s Office of Financial Sanctions Implementation later said it considers the HTX exchange itself subject to the sanctions because it is owned by Huobi Global.
The US Treasury sanctioned Shelbit and Aban Tether on Aug. 7.
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