Headline: Binance to block transactions with HTX and 10 other platforms from Aug. 23 as new sanctions bite Summary: Binance announced it will stop processing transactions involving HTX (formerly Huobi) and 10 other listed crypto platforms starting Aug. 23, citing recent sanctions and regulatory developments. The move follows new EU and UK measures targeting crypto services accused of helping sanctioned actors, and comes alongside earlier U.S. Treasury actions that prompted Binance to restrict additional providers in August. What Binance announced - Effective Aug. 23, Binance will block or hold transactions linked to: Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto INC., Tradex, Monease Ltd, BitPapa, Exnode, HTX (formerly Huobi), and EXMO. - Transactions involving these providers may be held for compliance checks and wallets could face temporary restrictions while reviews are ongoing. - Binance warned users not to send assets—directly or indirectly—to the listed providers after the cutoff dates, because such transfers could trigger further compliance actions under Binance’s terms. Why this is happening - The action aligns with recent European Union sanctions. The EU’s 21st package, adopted July 23, expanded transaction restrictions on financial and crypto services accused of helping Russia evade sanctions. That package specifically included HTX, EXMO, Rapira, BitPapa, Aifory Pro, WhiteBird, NoOnecrypto and Exnode, with transaction restrictions for some providers set to begin Aug. 23. - The EU measure is structured as a transaction ban (prohibiting direct and indirect transactions by EU persons and firms), rather than an asset freeze. The package also extended bans to dozens of Russian financial institutions and introduced tools to target third‑country providers believed to be facilitating evasion. Related UK and on‑chain scrutiny - The U.K. designated Huobi Global S.A. on May 26 as part of sanctions targeting networks allegedly helping Russia. The U.K. measures included asset freezes and other financial restrictions. HTX initially disputed that the U.K. designation applied to its operations, arguing Huobi Global S.A. was a separate legal entity; U.K. authorities later said HTX falls under the sanctions due to ownership links. - Blockchain analytics firms have flagged substantial Russia‑linked flows through HTX. Global Ledger traced more than $7.6 billion in Russia-connected flows through HTX since 2021, and TRM Labs identified billions in direct on‑chain transfers between HTX and entities later designated by the U.K. TRM also reported frequent hot‑wallet rotations across TRON, Ethereum, BNB Smart Chain and Solana that it said could complicate static sanctions screening. HTX has denied wrongdoing and characterized wallet moves as routine security operations. Earlier August restrictions and U.S. Treasury action - Binance’s notice also lists providers it already restricted: Shelbit and Aban Tether Exchange (subject to Binance restrictions from Aug. 7), and A7 Nigeria, A7 Africa and PilotFinance Ltd (Aug. 13). - The Aug. 7 date coincided with U.S. Treasury/OFAC sanctions that accused Shelbit and Aban Tether of helping Iran move crypto and of links to IRGC‑associated addresses. Treasury cited over $1 million sent from IRGC‑linked addresses to Shelbit and more than $2 million flowing back to IRGC addresses via Shelbit‑linked wallets. Aban Tether was accused of processing millions involving previously sanctioned Iranian exchanges. OFAC also designated an individual, Siavash Kayvanpour, and a network of associated companies. Shelbit denied knowingly participating in illicit finance; its former management said the platform had wound down customers in December and the following month. What this means for users and the market - Expect increased compliance checks, more on‑chain tracing activity, and potential delays or holds on transfers when counterparties are sanctions‑linked. Exchanges are widening screening to align with evolving sanctions lists, and analytics providers will play a bigger role in detecting suspicious flows. - For users: avoid sending funds to or through the listed platforms after the cutoff dates, monitor wallet activity, and be prepared for heightened transaction scrutiny if funds have a history of passing through sanctioned services. Bottom line: Regulators in the EU, U.K., and U.S. are tightening the squeeze on crypto platforms that authorities say have been used to skirt sanctions. Major exchanges like Binance are responding by implementing transaction blocks and enhanced screening, increasing compliance friction across the crypto ecosystem and spotlighting the role of blockchain analytics in enforcement. Read more AI-generated news on: undefined/news