Binance to block transactions with HTX and 10 other exchanges under EU sanctions

Binance announces a phased block on transactions with 16 cryptocurrency platforms, including major exchanges HTX and EXMO, to comply with international sanctions. The restrictions align with the European Union's 21st sanctions package against Russia and US Treasury actions targeting Iranian networks. The impending August 23, 2026, cutoff has already triggered a severe liquidity drain on HTX's Ether trading books, threatening market stability as other major exchanges like OKX and Bybit similarly tighten compliance.

Binance blocks 16 platforms

• ▪Binance announced on August 14, 2026, that it will stop processing direct and indirect transactions with 16 cryptocurrency platforms, including HTX and EXMO.
• ▪Binance warned users that transactions attempted with any of the 16 restricted platforms on or after their effective cutoff dates may be placed on hold for compliance review.
• ▪Binance stated that user wallets attempting transactions with the restricted platforms could face restrictions while compliance reviews are ongoing.

EU Russia sanctions compliance

• ▪The UK's Foreign, Commonwealth and Development Office previously designated 18 entities and individuals, including HTX, EXMO, BitPapa, and Rapira, on May 26, 2026, targeting the A7 network.
• ▪The U.S. Treasury's Office of Foreign Assets Control designated Shelbit and Aban Tether on August 7, 2026, as part of an action against networks serving the Iranian regime.
• ▪The 14 platforms restricted by Binance in its August 13 and August 23, 2026, waves match the cryptocurrency services named in the European Union's 21st sanctions package against Russia.
• ▪HTX disputed the scope of the Binance ban, stating that its sanctioned Panamanian-registered entity is separate from its trading operations.

HTX liquidity drain

• ▪The block on Binance transfers to HTX closes arbitrage channels, making price dislocations for Ether on HTX harder to correct.
• ▪The Ether trading book on HTX has thinned and lost liquidity as traders and liquidity providers pull back ahead of the August 23, 2026, Binance cutoff.

August phased implementation timeline

• ▪Binance implemented its initial platform cutoffs on August 7, 2026, targeting Shelbit and Aban Tether Exchange.
• ▪Binance cut off transactions with A7 Nigeria, A7 Africa, and PilotFinance Ltd on August 13, 2026.
• ▪Binance will implement its largest wave of restrictions on August 23, 2026, blocking 11 platforms including HTX, EXMO, Rapira, and BitPapa.

Multi-exchange compliance trend

• ▪Binance reported that its compliance team grew to nearly 1,500 staff members, representing approximately 25% of its global employee headcount.
• ▪Binance stated that its sanctions exposure decreased by 96.8% between January 2024 and July 2025.
• ▪Cryptocurrency exchanges OKX, Bybit, and Bitget have also been adjusting their compliance policies since May 2026 in response to the evolving regulatory landscape.

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