Binance Blocks Transactions With 16 Crypto Platforms Amid Regulatory Scrutiny

Binance has begun restricting user transactions with a growing list of crypto platforms as part of its phased compliance rollout tied to sanctions-related regulatory requirements. The exchange announced Friday that it will no longer process transactions, direct or indirect, involving 16 named crypto-asset service providers.

The restricted platforms include major exchanges HTX (Huobi) and EXMO, among others. Binance said the move is driven by 'recent regulatory developments' and its obligation to comply with rules in the jurisdictions where it operates.

The restrictions are intended to help maintain a safe and secure environment for users and their assets, according to Binance. Transactions attempted with any listed platform on or after its effective date may trigger a compliance hold on the associated wallet.