Binance will stop processing transfers to and from HTX and 10 other crypto platforms on August 23. Anything sent after that date can be held for a compliance review.

Binance did not draw up that list. It matches, name for name, the crypto firms in the European Union’s latest sanctions package.

The List Came From Brussels, Not Binance

The EU adopted Council Regulation 2026/1848 on July 23. It bans transactions with 14 crypto and payment platforms. Eleven of them become illegal to deal with on August 23.

Binance picked the same date in its announcement. It also copied the names exactly, down to odd spellings like “NoOnecrypto INC.” and “Exnode Pay (Arvix).”

Two earlier names came from Washington instead. The US Treasury sanctioned Shelbit and Aban Tether on August 7 over links to Iranian networks.

So this is not a delisting. No tokens leave Binance, and spot trading carries on as normal. What changes is where users can legally send money.

Why HTX Is on the List

Britain froze the assets of Huobi Global S.A., the Panama company behind HTX, on May 26. The stated reason was providing financial services to A7 LLC and Garantex Europe OU.

A7 is a Russian payment network. The US Treasury says it 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. HTX rejected the UK sanctions and told users their funds were safe.

A separate case is closer to a verdict. The Financial Conduct Authority (FCA) sued HTX in London’s High Court over illegal crypto ads. The settlement window closes on August 25.

“HTX’s conduct stands in stark contrast to the majority of firms working to comply with the FCA’s regime.”

That line belongs to Steve Smart, the FCA’s joint executive director of enforcement and market oversight.

Who Faces the Biggest Risk

HTX says it has 59.49 million registered users. Its own half-year report counts just over 420,000 who traded spot. Binance handles roughly 10 times HTX’s daily spot volume.

Traders who move funds between the two lose that route. So does anyone using the smaller listed platforms as a cheap on-ramp.

Ordinary wallets get caught too. 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.

Source: BeInCrypto