San reacts to Binance's blocking of HTX: restrictions will not affect everyone
HTX founder Justin Sun has issued an official statement regarding the recent restrictions imposed by Binance on his exchange. According to him, the block applies exclusively to users from the United Kingdom and the European Union, not to all platform clients. This statement came just a few hours after Binance published a notice about suspending operations with a number of crypto platforms, including HTX.
Sun emphasized that HTX does not operate in the UK or the EU, and therefore the restrictions should not affect the global client base. He also reported that the exchange is already in talks with regulators in those jurisdictions to resolve the situation. In his comment, he noted that affected users can contact HTX support, and their issues will be resolved on a case-by-case basis.
Binance's official position and discrepancies in data
However, Binance's official notice does not specify particular countries. The exchange warned that operations with restricted platforms may be suspended for compliance checks after the measures take effect. The list of 11 platforms, including HTX, was published without regional targeting, which creates uncertainty.
Sun's statement that HTX does not operate in the UK raises questions. The UK Financial Conduct Authority (FCA) reports that in 2023, the HTX website was visited 4.6 million times from the UK — the sixth-highest figure among crypto companies in terms of British traffic. Registration for new British users was only closed after a regulator lawsuit. Talks with the FCA are confirmed: a moratorium is in effect in the High Court until August 25, and HTX is negotiating over illegal advertising. Sun did not specify which EU body the talks are being held with.
The timeline is extremely tight: Binance will cut off HTX on August 23 — two days before the moratorium ends in London. This makes the situation especially tense for the exchange, which is trying to resolve legal issues in two key jurisdictions simultaneously.
My analysis: Sun's statement is an attempt to minimize reputational damage, but FCA data indicates that the British market was significant for HTX. Ignoring this fact may be a strategic move to avoid panic among users. However, for investors, this is a signal: regulatory pressure on offshore exchanges is intensifying, and even major players are not immune to blocks. I recommend closely monitoring the progress of talks with the FCA — their outcome will determine how serious the consequences for HTX will be.