Justin Sun says Binance limits affect only UK and EU users — but public notice leaves room for doubt Binance’s recent announcement that it will stop processing “direct or indirect” transactions involving HTX and ten other platforms from Aug. 23 has provoked a flurry of clarification and pushback — most notably from HTX founder Justin Sun, who says the restrictions only apply to Binance customers in the UK and European Union. What Binance said (and didn’t) On Aug. 14 Binance notified customers that, effective Aug. 23, it will halt processing transactions tied to a list of exchanges and services to comply with jurisdictional requirements. The exchange warned that attempted transactions after the deadline could be held for compliance review and that affected wallets might face temporary restrictions. Binance’s public notice itself does not explicitly limit the curbs to any single geography; it simply said the exchange must follow requirements in the jurisdictions where it operates. Justin Sun’s response Justin Sun posted that he had been talking with Binance and that “this matter concerns only Binance’s UK and EU users.” He also reiterated HTX’s position that the exchange does not conduct business in the UK or EU and said settlement talks with UK and EU regulators were underway. Sun urged affected users to contact HTX support, and said the platform would coordinate a resolution — a promise that HTX frames as a commitment rather than a guarantee that third parties or regulators will release transactions held under review. Who’s on the list Binance named the following 11 entities as subject to the Aug. 23 transaction restrictions: - Rapira - Aifory Pro - ABCeX - WhiteBird - NoOnecrypto - Tradex - Monease - BitPapa - Exnode - HTX - EXMO Why Aug. 23 matters The Aug. 23 date matches an EU sanctions measure adopted July 23 — Council Regulation 2026/1848 — which places these same platforms under transaction restrictions from that date. The EU regulation identifies the entities as providers of crypto-asset services outside the EU that “significantly frustrate sanctions involving Russia.” In short, the exchange actions align with a sanctions framework that targets access to the EU financial ecosystem. Other compliance moves Binance was not alone in acting. Bitget announced on Aug. 15 that it will apply additional controls to the same eleven entities from Aug. 23, warning that direct or indirect transactions may be reviewed or rejected and that related accounts could be restricted during compliance checks. Regulatory backdrop and HTX’s status HTX’s claim that it does not do business in the UK or EU should be read as the company’s position. UK authorities have been taking enforcement action: the Financial Conduct Authority previously said HTX had stopped new UK registrations after proceedings began, while existing users could still access accounts and promotions. The FCA still lists HTX as unauthorized. UK sanctions authorities have also targeted related firms. Britain designated Huobi Global S.A. on May 26 under its Russia sanctions regime, including an asset freeze and restrictions on correspondent banking and payment processing. UK guidance from OFSI says HTX is considered subject to UK financial sanctions because it is owned by Huobi Global; the EU separately placed HTX on its transaction-ban list in July. What users should know - Aug. 23 is the next confirmed deadline under the EU framework and the date Binance and Bitget cited for implementing restrictions. - Transactions attempted after Aug. 23 could be flagged for compliance review, and wallets or accounts might face temporary limitations. - HTX is urging affected users to contact its customer support and says it will try to coordinate resolutions — but that commitment does not bind exchanges or regulators executing compliance reviews. Bottom line: HTX and Binance disagree on the geographic scope in public statements, while EU and UK sanctions steps appear to be driving exchanges’ compliance actions. Users with funds or pending transactions involving the named platforms should prepare for potential holds or account limitations around the Aug. 23 deadline and follow updates from exchanges and regulators. Read more AI-generated news on: undefined/news