Sun refutes the scale of the block: Binance's restrictions for HTX will only affect the EU and Britain?
HTX founder Justin Sun rushed to reassure users, stating that the restrictions imposed by Binance on his exchange are targeted and apply exclusively to clients from the United Kingdom and the European Union. However, Binance's official notice lacks any geographical reference, which raises legitimate questions.
This statement came on Friday evening, just a few hours after Binance announced blacklisting HTX. Sun emphasized that he had already held talks with Binance representatives and that the issue affects only users from the specified regions. Moreover, he stated that HTX is actively engaging in dialogue with UK and EU regulators to reach a global agreement.
Binance's official position and the real state of affairs
Nevertheless, my analysis shows that Binance's wording is significantly broader. In its notice, the exchange does not single out specific countries, warning all users of a possible suspension of operations with restricted platforms to verify compliance. This is standard practice, but it does not confirm Sun's version of the localized nature of the restrictions.
Furthermore, Sun's claims that HTX does not operate in the UK look questionable, to say the least. According to 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 UK traffic. Although HTX closed registration for new UK users, this happened only after a lawsuit from the regulator, indicating an active user base in the region.
The situation is further complicated by the fact that a moratorium is in effect at the High Court of London until August 25, and HTX is indeed in talks with the FCA regarding unregulated advertising. However, Sun did not specify which EU body the negotiations are being held with, adding further ambiguity to his statements.
Tight deadlines and questions about strategy
The key point here is timing. Binance will disconnect HTX on August 23, just two days before the moratorium in London expires. This is an extremely tight deadline for any global agreements, which casts doubt on Sun's optimistic statements.
HTX users, especially those from the EU and the UK, should remain vigilant right now. I recommend closely monitoring official announcements and, in the event of any issues with withdrawing funds, immediately contacting the exchange's support service. The situation is developing rapidly, and in my view, Sun's statements are more of an attempt to manage reputational risks than a reflection of the real picture. The market needs transparency, not declarative assurances.