Binance blocks HTX EXMO from 23 August, cutting off transactions with 11 crypto platforms after it had already restricted five smaller venues earlier this month. The exchange said on 14 August that the step followed recent regulatory developments. However, it did not point to a specific action.
In total, 16 platforms are affected. That figure matches 14 crypto-related entities in the EU’s 21st Russia sanctions package, adopted in July, plus Shelbit and Aban Tether, which the US Treasury added separately on 7 August. Earlier in the month, Binance had already cut off Shelbit, Aban Tether Exchange, A7 Nigeria, A7 Africa and PilotFinance.
Binance Blocks HTX EXMO After Sanctions Pressure
Other platforms had already started to limit links to HTX before Binance announced its move. According to Finance Magnates testing, Bybit and Telegram Wallet were rejecting transfers tied to HTX ahead of the notice. Meanwhile, Binance said attempted transactions with the listed platforms after 23 August may face compliance review.
The exchange also said it may place restrictions on affected wallets while those reviews continue. For brokers, that means part of counterparty checks now happens earlier, as exchanges screen sanctioned platforms before brokers do. The broader block starts on 23 August.
HTX and EXMO Face Different Outcomes
HTX, formerly Huobi, disputes that the UK’s May designation applies to its exchange. It says the measure covers only a separate legal entity. However, the UK’s sanctions authority has said the exchange is covered through common ownership.
HTX’s daily spot volume has also fallen sharply, according to CoinGecko. It dropped from a peak above $5 billion in late 2025 to $572.8 million on 14 August. EXMO has taken a different path. The exchange said it is winding down operations entirely instead of challenging the designation.
Separately, Binance paid about $4.3 billion in November 2023 to settle criminal and civil charges with the US Department of Justice, FinCEN and OFAC. It also accepted an independent monitor under that agreement. In April, Senator Richard Blumenthal asked the DOJ and Treasury for an update on that monitorship, citing reports of Iran-linked transfers through Binance-associated accounts, which Binance disputes.
Binance also withdrew its MiCA licence application in Greece in June and has not yet secured authorisation elsewhere in the EU.
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Source: Finance Magnates
