Sun refutes the scale of the block: Binance's restrictions on HTX apply only to the EU and the UK.
HTX founder Justin Sun has issued an official statement aimed at calming panic among exchange users after Binance added HTX to its "blacklist." According to him, the imposed restrictions are targeted in nature and affect exclusively clients from the United Kingdom and the European Union, not the platform's global audience.
Sun emphasized that HTX does not conduct operational activities in the UK and EU, and therefore the block does not impact the vast majority of users. He also stated that the exchange is already in active negotiations with regulators from both regions to resolve the situation. This statement came just a few hours after Binance's notice was published, indicating a swift response from HTX's management.
Discrepancies in Official Positions
However, my analysis shows that there are significant contradictions in the parties' statements. Binance's official notice does not specify particular countries—it is addressed to all users without exception. The exchange warned that transactions with restricted platforms may be suspended for compliance checks after the rules take effect. In total, Binance restricted eleven platforms, and HTX was included on that list.
Moreover, Sun's claim that HTX "does not operate" in the UK raises questions. According to data from the Financial Conduct Authority (FCA), in 2023 the HTX website was visited from the UK 4.6 million times—the sixth-highest figure among all crypto companies by British traffic. Registration of new users from the UK was only closed after a regulator lawsuit, indicating the presence of an active user base in that region.
The statement about negotiations with British authorities, nevertheless, is confirmed. A moratorium is in effect at the High Court until August 25, and HTX is indeed in talks with the FCA regarding illegal advertising. At the same time, Sun did not specify which EU body consultations are being held with.
Analytical Conclusion
The timing here is highly telling: Binance will cut off HTX on August 23—just two days before the moratorium in London expires. It appears we are witnessing not merely a technical restriction, but part of a broader regulatory pressure on platforms operating in the "gray zone." I recommend that HTX users in the EU and UK closely monitor developments and, if necessary, withdraw funds in advance without waiting for the deadline. Sun, however, promised that HTX's support service will assist every affected client on an individual basis—but whether that promise is feasible remains to be seen.