Sun refutes the global nature of the Binance block: HTX restrictions apply only to the EU and the UK.
HTX founder Justin Sun stated that the exchange's inclusion on Binance's blacklist affects only users in the United Kingdom and the European Union. However, Binance's official notice makes no mention of geographic restrictions — this discrepancy warrants close attention.
Sun commented on Friday evening, just a few hours after Binance announced restrictions on operations with HTX. According to him, he has already held talks with Binance representatives, and the block applies only to Binance clients located in the UK and the EU. He also emphasized that HTX does not operate in these jurisdictions, and negotiations with British and European regulators are already in an active phase.
Discrepancy between statements and the official position
Binance's official notice, by contrast, contains no indications of specific countries and is addressed to all platform users. The exchange warned that operations with restricted platforms may be suspended for compliance checks after the decision's effective date. In total, Binance restricted 11 platforms, including HTX in that list.
Sun's second statement that HTX does not operate in the UK raises questions. The UK Financial Conduct Authority (FCA) recorded 4.6 million visits to the HTX website from Britain in 2023 — the sixth-highest figure among all crypto companies in terms of British traffic. Notably, HTX closed registration for new British users only after a regulator lawsuit, indicating interest from the local audience.
The claim of negotiations with British authorities seems plausible: a moratorium is in effect in the High Court until August 25, and HTX is in talks with the FCA regarding illegal advertising. However, Sun did not specify which EU body the negotiations are with, leaving room for interpretation.
Tight timelines and potential risks
The timeframes are extremely tight: Binance will cut off HTX on August 23 — two days before the moratorium in London expires. This creates additional pressure on the exchange, which is seeking to resolve the situation before the deadline. Sun promised that affected users can contact HTX support, and the exchange will help resolve issues on an individual basis.
My analysis: Sun's attempt to localize the problem is a classic PR move aimed at reducing panic among HTX's global audience. However, the absence of country-specific restrictions in Binance's official notice suggests that the risks may be broader than presented. Investors should closely monitor developments until August 23, as any delays in settling with regulators could lead to more severe consequences for HTX's liquidity.