Binance Blocks Transactions With 16 Crypto Exchanges Over…

Binance is cutting off transaction processing for 16 cryptocurrency firms, including major exchange HTX, as part of sanctions-related compliance measures. The restrictions are being applied in stages, with five companies already blocked and 11 more set to be barred from Aug. 23.

The exchange said it is required to adhere to regulatory requirements in the jurisdictions where it operates. It added that the measures are necessary to meet those requirements and help maintain a safe environment for users and their assets. Binance warned customers not to send or receive funds through any named entity after the cutoff dates; transfers detected later will undergo compliance review and could lead to wallet restrictions.

Already blocked are Shelbit and Aban Tether Exchange, effective Aug. 7, and A7 Nigeria, A7 Africa and PilotFinance Ltd., effective Aug. 13. The next tranche, starting Aug. 23, includes Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode/Exnode Pay, HTX — formerly Huobi — and EXMO Ltd.

The action tracks EU sanctions imposed in July against many of the same companies, with transaction restrictions scheduled to begin Aug. 23. EU authorities accused the firms of helping circumvent measures linked to Russia's invasion of Ukraine. HTX was specifically accused of providing financial services tied to A7 LLC, a Russia-linked cross-border payments operation connected to A7 Nigeria and A7 Africa. Shelbit and Aban Tether Exchange were not among the EU measures but were separately sanctioned by the U.S. Treasury Department over alleged Iran-linked money laundering and sanctions evasion. The UK also sanctioned HTX this year over alleged support for Russia and unlawful financial promotions.

HTX is the largest name on the list. The exchange rebranded from Huobi after TRON founder Justin Sun acquired a significant stake through an investment vehicle in 2022. While the Binance ban does not shut HTX down, it makes moving assets between the two platforms harder and may push users to alternative wallets or settlement routes. Funds that pass indirectly through sanctioned entities can still attract scrutiny if monitoring systems flag exposure further along the chain.

The move illustrates how sanctions increasingly work through connectivity between private platforms. Even if an exchange continues operating, losing transaction access to major counterparties can reduce liquidity and raise compliance burdens across the industry. The Aug. 23 deadline is the key moment when restrictions expand to HTX and ten other entities.