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Binance to stop processing transactions for HTX and 10 other platforms
The restriction takes effect Aug. 23, and Binance said transactions attempted on or after that date may be held for compliance review.
Binance said it will stop processing transactions involving crypto exchange HTX and 10 other listed platforms and service providers, with the changes taking effect Aug. 23, according to Cointelegraph.
The company listed HTX and several other affected entities, adding that transactions attempted on or after the effective date may be held and reviewed for compliance.
Cointelegraph reports that HTX, formerly Huobi, was added to the European Union’s sanctions package targeting Russia in late July. The UK also designated Huobi Global S.A. in May, citing alleged support for Russia through financial services or making available funds and economic resources.
HTX denied the UK allegations, arguing the designation applies only to Huobi Global S.A. as a separate legal entity and that its online exchange and user funds are unaffected. Cointelegraph also notes the UK’s Office of Financial Sanctions Implementation later said it considers the HTX exchange itself subject to the sanctions due to ownership by Huobi Global.