Key Takeaways
- • Binance will block all transfers to and from HTX and 10 other cryptocurrency platforms effective August 23, 2026, implementing an EU sanctions list adopted on July 23 under Council Regulation 2026/1848 covering 14 crypto and payment platforms.
- • The blacklist originates from Brussels regulatory action, not Binance's independent decision; the exchange copied the EU's exact names and effective date, with two additional entities (Shelbit and Aban Tether) added following US Treasury sanctions on August 7 over Iranian network connections.
- • HTX faces this restriction due to UK asset freezes on its parent company, Huobi Global S.A. (Panama), following allegations of financial services provision to Russian payment network A7 LLC and Garantex Europe OU, entities linked to sanctioned Moldovan politician Ilan Shor and Russian state bank Promsvyazbank.
- • Transfers sent after August 23 to blacklisted platforms will be held for compliance review; spot trading of tokens on Binance continues unaffected, meaning this is a delisting of deposit and withdrawal rails rather than a removal of assets from the exchange.
- • The Financial Conduct Authority's legal action against HTX in London's High Court over illegal cryptocurrency advertising faces a settlement deadline of August 25, adding regulatory pressure beyond sanctions.
Summary
Binance announced it will cease processing deposits and withdrawals to HTX and 10 other cryptocurrency platforms on August 23, 2026, directly mirroring an enforcement action by European Union regulators rather than initiating independent compliance measures. The list of 11 platforms mirrors Council Regulation 2026/1848, adopted by the EU on July 23, which imposes sanctions on 14 crypto and payment firms. Binance's announcement reproduces the EU's exact entity names, including unusual spellings such as "NoOnecrypto INC." and "Exnode Pay (Arvix)," with the same effective date. Two additional entities—Shelbit and Aban Tether—were added to Binance's compliance framework following separate US Treasury sanctions issued on August 7 over links to Iranian networks.
HTX, the cryptocurrency exchange operated by Huobi Global S.A., a Panama-registered entity, faces restrictions following UK asset freezes imposed on May 26. British authorities cited HTX's provision of financial services to A7 LLC, a Russian payment network, and Garantex Europe OU. According to US Treasury assessments, A7 belongs to sanctioned Moldovan politician Ilan Shor and Russian state bank Promsvyazbank. British officials reported that A7 claims to have processed over $90 billion in transactions within the prior year. The UK Treasury formally confirmed on May 29 that the freeze extends to the HTX exchange itself, though HTX has rejected the UK sanctions and publicly stated that user funds remain secure.
The enforcement action coincides with an ongoing Financial Conduct Authority lawsuit against HTX in London's High Court regarding illegal cryptocurrency advertising. That settlement window closes on August 25, adding immediate regulatory deadline pressure. An FCA statement noted that "HTX's conduct stands in stark contrast to the majority of firms working to comply with the FCA's regime."
Critically, Binance's action does not constitute a delisting of HTX tokens from its platform. Spot trading continues normally, and users retain access to existing holdings. What changes is the regulatory permission to transfer funds in and out of blacklisted platforms. Any transfers initiated after August 23 will be subject to compliance review holds, creating friction for users attempting to move capital between exchanges.
HTX, the cryptocurrency exchange operated by Huobi Global S.A., a Panama-registered entity, faces restrictions following UK asset freezes imposed on May 26. British authorities cited HTX's provision of financial services to A7 LLC, a Russian payment network, and Garantex Europe OU. According to US Treasury assessments, A7 belongs to sanctioned Moldovan politician Ilan Shor and Russian state bank Promsvyazbank. British officials reported that A7 claims to have processed over $90 billion in transactions within the prior year. The UK Treasury formally confirmed on May 29 that the freeze extends to the HTX exchange itself, though HTX has rejected the UK sanctions and publicly stated that user funds remain secure.
The enforcement action coincides with an ongoing Financial Conduct Authority lawsuit against HTX in London's High Court regarding illegal cryptocurrency advertising. That settlement window closes on August 25, adding immediate regulatory deadline pressure. An FCA statement noted that "HTX's conduct stands in stark contrast to the majority of firms working to comply with the FCA's regime."
Critically, Binance's action does not constitute a delisting of HTX tokens from its platform. Spot trading continues normally, and users retain access to existing holdings. What changes is the regulatory permission to transfer funds in and out of blacklisted platforms. Any transfers initiated after August 23 will be subject to compliance review holds, creating friction for users attempting to move capital between exchanges.
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