Binance Halts Transactions with HTX and Ten Platforms in Response to EU Sanctions
Binance has announced that starting August 23, 2026, it will cease processing transactions involving HTX (formerly associated with Huobi) and ten other cryptocurrency platforms. Transfers submitted after this date may be temporarily frozen for compliance reviews. Binance is implementing these restrictions strictly according to the latest EU sanctions list, which targets 14 crypto and payment service providers.
Background and Details of the EU Sanctions List
On July 23, the EU put into effect Council Regulation No. 2026/1848, prohibiting transactions with 14 specified crypto and payment platforms. Eleven of these platforms are affected from August 23 onward. Binance’s announcement references the exact same list, including platforms with unique name spellings such as “NoOnecrypto INC.” and “Exnode Pay (Arvix).”
It is notable that the US Treasury, on August 7, imposed sanctions on Shelbit and Aban Tether over alleged connections to Iranian cyber operations. These platforms are not included on the EU sanctions list.
HTX’s Sanction-Related Issues and UK Regulatory Actions
The UK government froze assets of Huobi Global S.A., a Panama-registered company behind HTX, on May 26. This action was taken due to alleged financial services provided by Huobi to Russia-linked payment networks A7 LLC and Garantex Europe OU. The A7 network is connected to sanctioned Moldovan politician Ilan Shor and Russia’s state-owned Promsvyazbank. According to UK authorities, A7 processed over $90 billion last year. On May 29, the UK Treasury extended the freeze to include the HTX exchange itself.
Separately, the UK Financial Conduct Authority (FCA) is pursuing legal action against HTX for issuing unauthorized crypto advertisements. The settlement window closes on August 25. Steve Smart, FCA’s Executive Director of Enforcement and Market Oversight, emphasized that HTX’s conduct stands in contrast to most firms that strive to comply with FCA regulations.
Impact on Users and Market Liquidity
HTX reportedly has about 59.49 million registered users, but only around 420,000 active spot traders as per recent interim reports. Binance’s daily spot trading volume is roughly ten times that of HTX. The sanction-driven halt of transactions between Binance and HTX will disrupt liquidity channels for traders moving funds between these platforms. Additionally, other small platforms on the EU list—often serving as cost-effective access points to crypto markets—will face operational restrictions.
Chain analysis expert ZachXBT noted that many blockchain addresses linked to HTX are now classified as potentially risky following UK government orders. This complicates the accuracy of risk models, as numerous unrelated addresses may be flagged due to collateral association.
Compliance Scope and User Recommendations
The EU sanctions apply broadly to all businesses operating within the union, mandating a full prohibition on trading with the designated platforms starting August 23. Some exchanges have preemptively strengthened due diligence—Bybit, for example, tightened risk controls on HTX-related accounts months prior. Users are advised to expedite the settlement of any ongoing cross-platform fund transfers to avoid freezes or transaction interruptions.
In summary, Binance’s move to suspend transfers with HTX and other sanctioned platforms reflects increased regulatory enforcement shaping the crypto sector’s operational landscape. Market participants should remain alert to evolving compliance requirements to safeguard fund mobility and adjust trading strategies accordingly.