Justin Sun commented on Binance's restrictions for HTX: are users in the EU and UK outside the risk zone?
HTX founder Justin Sun has publicly responded to Binance's recent decision to blacklist his exchange. According to him, the restrictions are targeted and affect exclusively users from the United Kingdom and the European Union. This statement came just a few hours after Binance sent out notifications about blocking operations with a number of platforms, and it is the first official comment from HTX.
Sun emphasized that he personally discussed the situation with Binance representatives and received assurances that this is not a global ban but rather compliance with regulatory requirements in specific jurisdictions. He also noted that HTX is already in talks with British and European regulators, although he did not specify which exact European Union body the dialogue is being held with.
Key contradictions and Binance's position
However, Binance's notification itself makes no mention of geographic restrictions. The exchange warned all users about a possible suspension of operations with 11 platforms on the blacklist for compliance checks. This discrepancy between Sun's statement and Binance's official position raises questions about the true scale of the restrictions.
Moreover, Sun's claim that HTX does not operate in the United Kingdom looks questionable. According to the Financial Conduct Authority (FCA), in 2023 the HTX website was visited 4.6 million times from the UK—the sixth-highest figure among all crypto platforms. Registration of new British users was only closed after a lawsuit from the regulator, indicating significant interest in the exchange in the region.
Tight deadlines and possible consequences
The situation is complicated by the fact that Binance plans to disconnect HTX as early as August 23—just two days before the moratorium expires in the High Court of London related to the FCA's lawsuit against HTX. Sun confirmed that negotiations with British authorities are actively underway, but the exact details of the agreement remain undisclosed.
My analysis: Sun's swift reaction indicates that he is aware of the seriousness of the situation, but his attempt to localize the problem only to the EU and the UK looks like a PR move to ease panic among the global audience. The crypto community should closely monitor developments until August 23—if Binance expands the restrictions to other jurisdictions, it could significantly hit HTX's liquidity and trust in the platform.