Binance Blocks Transactions With 14 Crypto Platforms Amid EU Sanctions

Binance has announced that it will stop processing transactions with 14 cryptocurrency platforms linked to Russia and listed in the European Union's latest sanctions package.

The restrictions took effect on August 13, with a further round due on August 23. The EU adopted its 21st sanctions package on July 23, targeting services that had been used by Russian structures to circumvent sanctions.

The listed services span six jurisdictions, including the United Arab Emirates, Georgia, Kyrgyzstan, and Belarus. Several of the platforms had served as intermediaries between ruble transfers and stablecoins routed to global exchanges, including HTX, EXMO, and Rapira.

Binance warned that transactions attempted after the effective dates could be held for a compliance review, with restrictions applied to the wallets involved while checks continue. The exchange has already departed from Russia and ended its partnership with the payment system AdvCash in November 2023.