Justin Sun on HTX blocking on Binance: restrictions will only affect the EU and the UK.
HTX founder Justin Sun stated that the restrictions imposed by Binance on his exchange apply exclusively to users in the United Kingdom and the European Union. However, Binance's official notice does not specify any particular country, raising questions about the scope of the block.
This statement came on Friday evening—just a few hours after Binance announced adding HTX to its blacklist. 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. It only concerns Binance users in the UK and the EU. Huobi itself does not operate in the UK or the European Union. Our negotiations with British and European regulators are already underway," he wrote.
Sun also added that affected users can contact HTX support, and the exchange will help resolve issues on a case-by-case basis.
Binance restrictions and HTX's position
In its notice, Binance did not single out any country and addressed it to all users. The exchange warned that transactions with restricted platforms may be suspended for compliance checks after the effective date. In this announcement, Binance restricted 11 platforms.
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 the UK—ranking sixth among crypto companies by British traffic. HTX closed registration for new UK users only after a lawsuit from the regulator.
The claim about negotiations with British authorities is confirmed. A moratorium is in effect 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 being held with.
The timeline is extremely tight: Binance will cut off HTX on August 23—two days before the moratorium in London ends.
My analysis
The situation looks ambiguous. On one hand, Sun is trying to localize the damage and emphasize that global users will not be affected. On the other hand, the lack of country-specific targeting in Binance's notice and FCA data on significant British traffic to HTX indicate that the real scale of the restrictions may be broader. I recommend HTX users closely monitor updates and check the status of their accounts in advance, especially if they are in jurisdictions under regulatory pressure. In such situations, it is better to act proactively than to wait for clarifications after the fact.