Justin Sun said on Aug. 14 that Binance had clarified its coming restrictions on transactions involving HTX apply only to Binance users in the UK and European Union.
Summary
- Justin Sun says Binance restrictions involving HTX apply only to users in Britain and Europe.
- Binance will restrict transactions involving HTX and ten other platforms beginning on August 23, 2026.
- European Union rules list HTX among eleven crypto platforms facing transaction bans from August 23.
- Britain sanctioned Huobi Global in May and considers the HTX exchange covered by those measures.
- UK court records confirm settlement talks, while Sun also claims negotiations with European Union regulators.
His statement followed Binance’s notice that it will stop processing direct or indirect transactions involving HTX and ten other platforms from Aug. 23.
Sun said he had been communicating with Binance and that HTX does not conduct business in either region. He also said settlement negotiations with UK and EU regulators were underway. Binance’s public notice, however, does not itself state that the restrictions are limited to UK and EU customers. It says the exchange must comply with requirements in jurisdictions where it operates.
Binance restrictions match the EU’s Aug. 23 sanctions list
Binance named Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode, HTX and EXMO in the Aug. 23 group. Transactions attempted after the deadline may be held for compliance review, while affected wallets can face restrictions during that process.
The list and effective date match an EU sanctions measure adopted July 23. Council Regulation 2026/1848 places the same eleven platforms under transaction restrictions from Aug. 23 and identifies them as entities providing crypto asset services outside the EU that significantly frustrate sanctions involving Russia. As crypto.news reported, Binance will stop processing transactions involving HTX and ten other platforms from Aug. 23.
Sun’s geographic clarification is absent from Binance’s notice
Sun wrote that “This matter concerns only Binance’s UK and EU users.” That geographic limitation comes from Sun’s account of his discussions with Binance. The exchange had not added equivalent wording to its public announcement as of Aug. 16.
Sun also said “HTX does not conduct business in the UK or EU.” That statement should be treated as HTX’s position. The UK Financial Conduct Authority said in February that HTX had stopped new UK users from registering after proceedings began, but existing users could still log in and access promotions. The FCA continues to list HTX as unauthorized.
HTX’s UK settlement talks are confirmed by court records
One part of Sun’s statement can be independently verified in Britain. A June 25 High Court order extended a stay in the FCA’s case against Huobi Global for another two months so the parties could try to settle the dispute. The regulator sued in October 2025 over alleged unlawful crypto promotions to UK consumers.
As crypto.news reported, HTX and the FCA entered settlement talks over the crypto marketing lawsuit. The talks are separate from sanctions. Sun also says negotiations are underway with EU regulators, but no separate official EU settlement announcement was identified in the materials reviewed.
UK and EU sanctions remain separate from the FCA case
Britain designated Huobi Global S.A. on May 26 under its Russia sanctions regime. The measures include an asset freeze and restrictions on correspondent banking and payment processing. The UK said it had reasonable grounds to suspect Huobi Global provided financial services or resources to A7 LLC and Garantex Europe OU.
HTX previously argued that Huobi Global was legally separate from the online exchange. UK sanctions authorities rejected that distinction for enforcement purposes. OFSI guidance states that it considers HTX subject to UK financial sanctions because it is owned by Huobi Global. The EU separately placed HTX on its transaction-ban list in July, as previously reported.
What happens next
The compliance response is spreading beyond Binance. Bitget announced on Aug. 15 that it will apply additional controls to the same eleven entities from Aug. 23. Direct or indirect transactions can face review or rejection, while related accounts may be restricted during compliance checks.
For HTX users, Aug. 23 is the next confirmed deadline under the EU framework and the restrictions announced by Binance and Bitget. Sun said affected users can contact HTX customer support and that the exchange will coordinate a resolution. That is an HTX commitment, not a guarantee that Binance, Bitget or regulators will release any transaction or wallet placed under compliance review.
Be the first to comment