Binance announced on August 14 it will stop processing transactions with 16 crypto exchanges and platforms, including HTX and EXMO, citing compliance with European Union sanctions targeting entities that allegedly helped Russia evade financial restrictions.
The world’s largest cryptocurrency exchange by volume said it will block transactions with 11 platforms starting August 23, after already cutting off five smaller entities earlier in the month. The affected platforms include HTX (formerly Huobi), EXMO, Rapira, ABCeX, BitPapa, Aifory Pro, WhiteBird, NoOnecrypto, Tradex, Monease, and Exnode/Exnode Pay.
EU’s 21st Sanctions Package Targets Crypto
The move follows the EU’s 21st Russia sanctions package, adopted in July 2026, which added 14 crypto service providers to its sanctions list. The EU accused these entities of significantly frustrating restrictions related to Russia’s invasion of Ukraine. HTX, linked to Justin Sun and reporting $3.3 trillion in 2025 trading volume, was among the most prominent exchanges designated.
Starting August 23, EU operators are prohibited from engaging directly or indirectly in transactions with the listed platforms. While the action constitutes a transaction ban rather than a full asset freeze, eligible EU users can apply for authorization to withdraw funds or close accounts within three months of the ban taking effect.
Compliance Pressures Mount
Binance’s own compliance record remains under scrutiny as the exchange navigates an increasingly complex global sanctions landscape. The 16 affected platforms match the 14 crypto-related entities in the EU sanctions package, plus Shelbit and Aban Tether Exchange, which were added separately by the U.S. Treasury on August 7.
Blockchain intelligence firm TRM Labs identified HTX when UK authorities said a major global crypto exchange had channeled more than $1.5 billion toward Kremlin-linked entities. TRM Labs also reported that HTX rotated hot wallets and funding addresses across Tron, Ethereum, BNB Smart Chain, and Solana in the weeks following the UK designation, with some addresses remaining active for only hours before being replaced.
The UK designated Huobi Global S.A., the Panama-registered entity behind HTX, under its Russia sanctions regime in May 2026, adding pressure on the exchange from multiple Western jurisdictions simultaneously.
Binance warned its compliance team will hold any transactions attempted on or after August 23 and may lock affected user wallets during formal reviews. The escalation highlights how crypto exchanges are increasingly forced to serve as enforcement arms of state sanctions regimes, blurring the line between platform neutrality and regulatory compliance.
Sources: The Block; Finance Magnates; CoinNews; TRM Labs; EU Official Journal
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