Justin Sun commented on Binance's blocking of HTX: details and implications for users
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, which narrows the scope of the issue and suggests the measures are targeted in nature.
The comment came on Friday evening—just a few hours after Binance notified that it had added HTX to its blacklist. Sun emphasized that he personally discussed the situation with Binance representatives and concluded that the restrictions are not global in scope. He also noted that HTX is already in talks with regulators in the UK and the EU to resolve the situation.
What the facts say
Binance's official notice does not mention specific countries and is addressed to all platform users. The exchange warned that transactions with restricted platforms may be suspended for compliance checks. In total, Binance restricted 11 platforms, indicating a systematic approach to risk management.
However, 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 by British traffic. Registration for new UK users was only closed after a regulatory lawsuit.
Sun also confirmed that negotiations with British authorities are indeed underway. A moratorium is in effect in the High Court until August 25, and HTX is discussing issues related to illegal advertising with the FCA. At the same time, he 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 in London ends. This creates additional pressure on the exchange, which is seeking to resolve the conflict before the deadline.
My analysis: The situation shows that even major players are not immune to regulatory risks, and Binance's actions are a signal to the market about the need to tighten compliance procedures. Users should monitor updates closely, as individual appeals to HTX support may become the only way to resolve issues in the short term.