Binance Blocks Transactions for 11 Crypto Platforms Under EU Sanctions
Binance has announced that it will stop processing transactions involving HTX and 10 other crypto platforms starting August 23, in compliance with a European Union sanctions package. The list of restricted platforms includes HTX (formerly Huobi), Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode, and EXMO.
The EU sanctions target entities that have helped Russia evade restrictions over its invasion of Ukraine. Binance's decision to restrict transactions with these platforms matches the European Union's list of banned crypto and payment platforms. The exchange has warned that transactions attempted with any listed platform on or after August 23 may be held for compliance review, and restrictions could extend to affected wallets.
HTX is the most consequential name on the list by scale, with 59.49 million registered accounts, although only about 420,000 were active in spot trading over the past six months. The UK had previously frozen the assets of Huobi Global S.A. in May, citing financial services allegedly provided to A7 LLC, a Russian payment network linked to sanctioned Moldovan politician Ilan Shor and Russian state bank Promsvyazbank.