Binance Restricts 16 Crypto Platforms Amid Regulatory Pressures

Binance, one of the largest cryptocurrency exchanges, has introduced restrictions on transactions involving 16 crypto-asset service providers and platforms. The exchange cited recent regulatory developments as the reason behind this decision.

The restrictions will be implemented in three stages, with some platforms already restricted by Binance. For instance, platforms like Shelbit, Aban Tether Exchange, PilotFinance Ltd, A7 Africa, and A7 Nigeria have been restricted since earlier dates.

Starting August 23rd, transactions involving the following platforms will be restricted: Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode, and HTX (Huobi Global SA). EXMO Ltd. is also included in this list.

Binance stated that transactions involving these platforms after the cutoff dates may be held and subjected to compliance reviews. The exchange will also impose restrictions on impacted wallets during the review process.