Binance sanctions crypto firms, cutting off HTX and 15 others by Aug. 23
Binance is cutting off financial ties with more than a dozen crypto platforms, and the list includes a name that matters far beyond the usual roster of obscure exchanges: HTX, the global trading platform formerly known as Huobi. Starting August 14, 2026, the worldโs largest crypto exchange began winding down transaction processing with 16 entities in a phased schedule running through August 23. The move to have Binance sanctions crypto firms tied to Russia, Iran and money-laundering allegations is one of the clearest signs yet that Western sanctions pressure is now reshaping how major exchanges deal with each other.
Key takeaways
- Binance is halting transaction processing for 16 crypto entities, including HTX, in a phased rollout from August 7 to August 23, 2026.
- The cutoff follows sanctions from the European Union, the United States Treasury Department and the United Kingdom tied to the Russia-Ukraine war and anti-money laundering enforcement.
- Any transaction involving the listed platforms after their respective deadlines will trigger a compliance review and could lead to wallet freezing.
- HTX founder-linked figure Justin Sun says the exchange does not operate in the UK or EU and that settlement talks with regulators are already underway.
- The episode underscores accelerating crypto market fragmentation, with exchanges forced to choose between sanctions compliance and serving restricted jurisdictions.
Binance imposes phased transaction bans on 16 crypto entities
Binance is not shutting the door all at once. Instead, it built a rolling schedule that has already begun cutting off some platforms while giving others a longer runway before the final deadline. The exchange said in its announcement that it must โadhere to the regulatory requirements in the jurisdictions in which it operates,โ framing the decision as a compliance necessity rather than a business choice.
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