Binance halts HTX transfers with 10 platforms as EU sanctions bite

Binance's restriction list matches, name for name, the crypto firms in the European Union's latest sanctions package.

Binance will halt transfers to and from HTX and 10 other crypto platforms on August 23, holding any funds sent after that date for a compliance review.

"HTX's conduct stands in stark contrast to the majority of firms working to comply with the FCA's regime," Steve Smart, joint executive director of enforcement and market oversight at the Financial Conduct Authority, said.

The list came from Brussels, not Binance. The EU adopted Council Regulation 2026/1848 on July 23, banning transactions with 14 crypto and payment platforms, 11 of which become illegal to deal with on August 23. Binance copied the names exactly, down to odd spellings like "NoOnecrypto INC." and "Exnode Pay (Arvix)." Two earlier names — Shelbit and Aban Tether — came from the US Treasury, which sanctioned them on August 7 over links to Iranian networks.

This is not a delisting. No tokens leave Binance and spot trading carries on. What changes is where users can legally send money. HTX says it has 59.49 million registered users, though its half-year report counts just over 420,000 who traded spot. Binance handles roughly 10 times HTX's daily spot volume.

Why HTX Is on the List

Britain froze the assets of Huobi Global S.A., the Panama company behind HTX, on May 26 for providing financial services to A7 LLC and Garantex Europe OU. A7 is a Russian payment network that the US Treasury says belongs to sanctioned Moldovan politician Ilan Shor and Russian state bank Promsvyazbank; British officials say the network claims to have moved more than $90 billion last year. The UK Treasury confirmed on May 29 that the freeze covers the HTX exchange itself, which rejected the sanctions and told users their funds were safe. A separate case is closer to a verdict: the FCA sued HTX in London's High Court over illegal crypto ads, with a settlement window closing on August 25.

Traders who move funds between Binance and the affected platforms lose that route, as do anyone using the smaller listed platforms as a cheap on-ramp. On-chain investigator ZachXBT argued the UK order tainted innocent addresses and made risk scores meaningless. Binance is not the last stop: the EU ban binds every firm in the bloc from the same morning, and Bybit tightened its checks months ago. Users have nine days to clear anything still in flight.

The restriction reflects heightened compliance scrutiny across major exchanges, potentially disrupting fund flows between platforms and triggering outflows from affected venues. For users holding assets on both Binance and HTX, transfers that once settled instantly may now be delayed or blocked entirely.

This article is for informational purposes only and does not constitute investment advice.