Binance to Cut Ties With 16 Crypto Platforms Over Sanctions

The August 23 group lines up entity for entity with the crypto services named in the European Union’s 21st sanctions package against Russia, according to a comparison of the lists. The two earliest targets, Shelbit and Aban Tether, were designated by the US Treasury’s Office of Foreign Assets Control on August 7 as part of an action against networks the Treasury said served the Iranian regime.

HTX, formerly Huobi, pushed back on the scope of the ban. The exchange said the sanctioned Panamanian-registered entity is separate from its trading operations and that compliance remains a priority. EXMO, meanwhile, said it is winding down. Several other platforms on the list, including BitPapa and Rapira, were designated earlier this year by the UK’s Foreign, Commonwealth and Development Office in an action tied to the so-called A7 network.

Binance has spent months defending its compliance record. The company said its sanctions exposure dropped 96.8% between January 2024 and July 2025. Its compliance team now numbers almost 1,500 staff, roughly a quarter of its global headcount.

The exchange warned that transactions attempted with a listed entity on or after its effective date may be placed on hold for compliance review. Wallets associated with such transactions could face restrictions during the review. Users who attempt transactions may also breach Binance’s terms of use.