Sun refutes the scale of Binance's block: HTX restrictions only apply to the EU and the UK.
HTX founder Justin Sun has rushed to clarify the situation regarding the recent blacklisting by Binance. According to him, the strict measures apply exclusively to users from the United Kingdom and the European Union, not to all exchange clients. This statement came just a few hours after Binance officially notified about the introduction of restrictions on operations with a number of platforms.
Sun's Official Position
In his statement, Sun emphasized that HTX does not conduct operational activities in the UK and EU, and therefore the block is not global in nature. "I have already discussed this issue with Binance. This only concerns Binance users in the UK and EU. Huobi itself does not operate in these jurisdictions. Negotiations with British and European regulators are already underway," he noted.
At the same time, Sun assured that affected clients can contact HTX support, and the exchange will provide assistance in resolving issues on an individual basis.
Contradictions with the Official Notice
However, my analysis shows that Binance's wording looks different. In the official notice, the exchange does not single out specific countries, addressing the warning to all users. Moreover, Binance clearly warned that operations with restricted platforms may be suspended for compliance checks after the measures take effect.
Here a key discrepancy arises. The UK Financial Conduct Authority (FCA) records that in 2023, the HTX website was visited from the UK 4.6 million times—the sixth highest figure among crypto companies by British traffic. And only after a regulator lawsuit did HTX close registration for new British users.
Tight Deadlines and Legal Context
The timing deserves special attention. Binance will cut off HTX on August 23—two days before the moratorium expires in the High Court of London. This is an extremely tight timeframe for resolution. As for negotiations with British authorities, they are indeed ongoing: HTX is currently discussing issues related to illegal advertising with the FCA. However, Sun did not specify which EU body consultations are being held with.
My conclusion: Sun's statement is an attempt to localize reputational damage, but FCA data calls into question the claim of a complete absence of British users. The question of how ready Binance is for targeted exceptions remains open, and investors should closely monitor developments until the August 23 deadline.