Justin Sun commented on HTX being added to Binance's "blacklist": user funds are not at risk.
HTX founder Justin Sun has issued an official statement regarding recent restrictions imposed by Binance, emphasizing that they are purely geographical in nature and do not affect the exchange's global liquidity. According to him, the block only applies to Binance users located in the United Kingdom and European Union countries.
This statement came just hours after Binance notified clients of restrictions on operations with a number of crypto platforms, including HTX in a list of 11 "undesirable" addresses. Sun also confirmed that HTX is already in active talks with UK and EU regulators to resolve the situation.
Justin Sun's Comment
On Friday evening, Sun wrote on social media: "I discussed this topic with Binance, and it only concerns Binance users in the UK and EU. Huobi itself does not operate in the UK or the European Union. Our negotiations with British and European regulators are already underway."
He also added that affected users can contact HTX support, and the exchange will help resolve issues on an individual basis.
Binance Restrictions and HTX Position
It is important to note that in its official notice, Binance did not single out specific countries, addressing the warning to all users. The exchange warned that operations with restricted platforms may be suspended for compliance checks after the effective date.
However, Sun's second statement raises questions. The UK Financial Conduct Authority (FCA) claims that in 2023, the HTX website was visited 4.6 million times from Britain — ranking sixth among crypto companies in British traffic. HTX only closed registration for new British users after a regulator lawsuit.
The statement about negotiations with British authorities is confirmed. There is a moratorium in the High Court case until August 25, and HTX is currently in talks with the FCA regarding illegal advertising. Sun did not specify which EU body the negotiations are with.
The timeline is extremely tight: Binance will cut off HTX on August 23 — two days before the moratorium ends in London.
My analysis: The situation shows growing regulatory pressure on crypto exchanges operating in gray areas. Although Sun's statements are intended to calm the market, the reality is that HTX will either have to fully legalize in the EU and UK or lose access to these markets through major infrastructure platforms such as Binance. For users, this is a signal: diversifying assets across exchanges is becoming not just a recommendation, but a necessity.