Justin Sun on HTX blocking on Binance: restrictions will only affect the EU and the UK
HTX founder Justin Sun stated that the exchange's inclusion on Binance's "blacklist" concerns exclusively users from the United Kingdom and the European Union. However, in the official Binance notice that I analyzed, there is no mention of geographical restrictions—it is addressed to all platform clients without exception.
The comment came on Friday evening, just a few hours after Binance announced the blocking of operations with 11 crypto platforms, including HTX. Sun emphasized that he had already held talks with Binance representatives and that the restrictions are targeted in nature.
"I discussed this matter with Binance, and it concerns only Binance users in the UK and the EU. Huobi itself does not operate in these jurisdictions. Our negotiations with British and European regulators are already underway," Sun wrote on social media.
Discrepancies between statements and reality
However, my analysis shows that Sun's position raises questions. The UK Financial Conduct Authority (FCA) claims that in 2023, the HTX website was visited 4.6 million times from Britain—the sixth highest figure among all crypto companies in terms of British traffic. Notably, HTX closed registration for new British users only after a lawsuit from the regulator.
It is worth noting that the statement about negotiations with British authorities has confirmation. A moratorium is in effect at the High Court until August 25, and HTX is indeed in dialogue with the FCA regarding illegal advertising. However, Sun did not specify which exact EU body the negotiations are being held with—this leaves room for interpretation.
The timing of events is highly telling: Binance will cut off HTX on August 23—just two days before the moratorium expires in London. Sun, meanwhile, assured that affected users can contact HTX support, and the exchange will help resolve issues on an individual basis.
My comment: The situation demonstrates how regulatory pressure in Europe is changing the crypto market landscape. Sun's public position softens the blow to HTX's reputation, but discrepancies with official data from Binance and the FCA suggest that the real consequences may be broader than presented. I recommend HTX users in the EU and Britain to closely monitor developments in the coming days.