Sun refuted the global blocking of HTX by Binance: restrictions will only affect the EU and Britain.
HTX founder Justin Sun has issued an official clarification regarding Binance's recent decision to blacklist the exchange. According to him, the restrictions are targeted and apply exclusively to users in the United Kingdom and the European Union, not to the global client base.
This statement came just hours after Binance notified about imposing restrictions on operations with a number of platforms. Notably, Binance's notification itself did not specify particular countries—it was addressed to all users without exception. However, Sun insists that the issue concerns only jurisdictions where HTX does not actively operate anyway.
Justin Sun's comment and resolution timeline
Sun confirmed that he has already held talks with Binance representatives and emphasized that HTX does not operate in either the UK or the EU. "Our negotiations with British and European regulators are already underway," he wrote on social media, adding that affected users can contact HTX support, and the exchange will help resolve their issues on an individual basis.
The key point here is the timeline. Binance plans to disconnect HTX on August 23, which coincides with the end of the moratorium in the High Court of London scheduled for August 25. This creates an extremely tight schedule for resolution: the parties have only two days to find a mutually acceptable solution before the court pause expires.
Contradictions and the real position of regulators
However, Sun's statements raise reasonable doubts. The UK Financial Conduct Authority (FCA) claims that in 2023, the HTX website was visited 4.6 million times from Britain—ranking sixth among all crypto companies in UK traffic. At the same time, HTX closed registration for new British users only after the regulator's lawsuit, which calls into question the claim of a complete absence of activity in the region.
Negotiations with British authorities are indeed confirmed: HTX is in dialogue with the FCA regarding unauthorized advertising. However, Sun did not specify which exact EU body the negotiations are being held with, adding uncertainty to his statements.
Cryptalist's analytical perspective
The situation demonstrates a classic practice of "smart" regulation: Binance uses blacklists as a tool to pressure competitors while simultaneously reducing its own regulatory risks. For HTX, this is not so much a threat as a signal of the need to accelerate legalization in key jurisdictions. For now, investors should closely monitor developments over the next 48 hours—they will determine how serious the consequences will be for both platforms.