Binance Halts Transactions with 17 Crypto Platforms Amid Regulatory Scrutiny
Binance has halted transactions with 17 crypto platforms in Nigeria, UAE, and Iran 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 subject to restrictions. By August 23, more platforms including Rapira, Aifory Pro, ABCeX, WhiteBird, Tradex, NoOnecrypto INC., Monease Ltd, BitPapa, Exnode, and HTX will no longer have their transactions processed by Binance.
The exchange cited regulatory requirements in the jurisdictions it operates as the reason for the restrictions. The move is likely linked to recent sanctions targeting crypto-asset service providers accused of helping Russia circumvent sanctions.