Binance Blocks 16 Crypto Platforms Amid Regulatory Pressure

Binance has announced it will block transactions with 16 crypto platforms from August 23rd, citing 'recent regulatory developments'.

The affected exchanges include HTX (formerly Huobi) and EXMO, among others. HTX disputes its designation by the UK's sanctions authority, arguing that it only applies to a separate legal entity.

EXMO has taken a more drastic approach, shutting down operations entirely rather than contesting its designation.

Binance's own compliance record remains under scrutiny, with the exchange paying $4.3 billion in 2023 to settle charges and accepting an independent monitor.