According to reports from AMBCrypto and TradingView News, Binance has implemented a staged transfer restriction affecting 16 crypto or payment platforms following recent sanctions on Iranian or Russian-related services. The restrictions began on August 7 with Shelbit and Aban Tether Exchange, two Iran-based crypto platforms targeted by the US Treasury's Office of Foreign Assets Control (OFAC). From August 13, the platform restricted transactions involving A7 Nigeria, A7 Africa, and PilotFinance. The most significant restrictions are scheduled to begin on August 23, when transfers to Rapira, A7 Nigeria, A7 Africa, PilotFinance, HTX, EXMO, and EXnode will be blocked. As reported by AMBCrypto, the restrictions do not mean Binance will remove HTX, EXMO or assets available on those exchanges, but will block transactions involving them once the restrictions begin.
As reported by AMBCrypto and TradingView News, the restrictions were announced on August 14 due to new regulatory requirements. According to OFAC, the targeted exchanges helped move assets across different platforms linked to sanctions evasion efforts and Iran's Islamic Revolutionary Guard Corps. The sixteen platforms affected match the 14 crypto-related entities in the EU's 21st Russia sanctions package, adopted in July, plus Shelbit and Aban Tether added separately by the US Treasury on August 7. The EU accused the named companies of helping frustrate restrictions imposed over Russia's invasion of Ukraine, with HTX specifically accused of providing financial services connected to A7 Limited Liability Company, a Russia-linked cross-border payments business that appears connected to A7 Nigeria and A7 Africa. The UK also sanctioned HTX earlier this year over alleged support for Russia and unlawful financial promotions, with blockchain investigators separately alleging that the exchange rotated hot wallets and funding addresses after UK restrictions were introduced. Not every Binance restriction stems from Russia sanctions - Shelbit and Aban Tether Exchange were sanctioned by the US Treasury Department over alleged Iran-linked money laundering and sanctions evasion.
According to the announcement reported by AMBCrypto and TradingView News, the restrictions do not mean Binance will remove HTX, EXMO or assets available on those exchanges, but will block transactions involving them once the restrictions begin. Any wallets attempting these transactions may be subject to further internal compliance checks, and accounts can be temporarily suspended as exchanges investigate potential violations. The platform has set out to carry out these measures in three phases, with the final phase beginning August 23, 2025. Binance warned customers not to send or receive funds through the exchange when those transactions involve any of the named entities after their respective cutoff dates, with transfers detected after the restrictions begin subject to compliance review and could result in wallet restrictions. The company stated that "Binance is required to adhere to the regulatory requirements in the jurisdictions in which it operates. These measures are necessary to meet those requirements and to help maintain a safe and secure environment for our users and their assets."
The August 23 deadline will be particularly important as it marks when Binance's restrictions expand to HTX and ten other entities, making the decision more consequential for users who regularly transfer crypto between large trading venues. As reported by AMBCrypto and TradingView News, the decision closely follows sanctions imposed by the European Union against many of the same companies, with EU authorities adding HTX and several other crypto firms to sanctions measures connected to Russia in July. Other platforms had already started limiting exposure to HTX before Binance's move, with Bybit and Telegram Wallet reportedly rejecting transfers linked to HTX ahead of the announcement. HTX, formerly Huobi, disputes that the UK's May designation covers its exchange, arguing it applies only to a separate legal entity, while the UK's sanctions authority has said the exchange is covered through common ownership. The platform's daily spot volume has declined sharply from a peak above $5 billion in late 2025 to $572.8 million as of August 14, according to CoinGecko. EXMO's position is more serious, with the exchange saying it is winding down operations entirely rather than contesting the designation.
