Binance Blocks Transactions for 17 Crypto Platforms Amid Regulatory Scrutiny

Crypto exchange Binance has stopped processing transactions involving 17 cryptocurrency-asset service providers and platforms following recent regulatory developments.

The restrictions take effect in phases, with Shelbit (Shelbit General Trading LLC), which operates in the UAE and Iran, and Aban Tether Exchange, which operates in Iran, affected from August 7. From August 13, A7 Nigeria, A7 Africa, and PilotFinance Ltd will also be restricted.

The exchange said that starting August 23, more platforms will be impacted, including Rapira and Aifory Pro (Sooty Ltd.), both of which operate in Georgia, as well as WhiteBird and Tradex (Brightum LLC), based in Belarus.

Binance instructed users not to engage in transactions with the listed entities after the respective effective dates, warning that any attempted transactions may be held and subject to a compliance review. The exchange also noted that restrictions may be applied to affected wallets while the review is ongoing.