Binance will cut off HTX on August 23, two days before a High Court stay in the UK regulator's case against the crypto exchange expires. The move follows a compliance notice that restricts 11 platforms, though HTX founder Justin Sun insists the block applies only to UK and EU users.
What Binance's Notice Actually Says
The exchange's notice does not limit the restriction to any specific region. It addresses all users and warns that transactions may be held for compliance review after the effective date. Binance has not publicly explained why HTX appears on the list.
Sun, in a statement, said HTX does not conduct business in the UK or EU. He claimed the Binance restrictions apply only to those two markets, and pointed affected users to HTX customer service for help.
Binance's notice lists 11 platforms total. HTX is among them. The cutoff lands on August 23, which is also two days before the High Court stay expires on August 25.
The FCA Case and the 4.6 Million Visits
The UK's Financial Conduct Authority sued HTX over alleged illegal advertising. The regulator says HTX drew 4.6 million UK visits in 2023, ranking it sixth among virtual asset firms accessed from Britain.
HTX limited new UK sign-ups only after the regulator filed its lawsuit. The company is now in settlement talks with British and EU authorities, though Sun did not name the EU body he is negotiating with.
The High Court stay runs until August 25. That gives both sides a narrow window to reach an agreement before the case resumes.
What Happens Next
HTX faces two parallel deadlines. The Binance cutoff arrives first, on August 23. Then the stay expires on August 25, which could restart litigation with the FCA unless a settlement is reached.
For HTX users, the practical question is whether their funds move before the Binance block takes effect. Sun says customer service can help, but the exchange has not published a detailed migration plan.
The unresolved issue: whether Binance's restriction really is limited to the UK and EU, or whether it applies to all users globally. Binance's notice doesn't say. HTX's founder says it does. The August 23 cutoff will make the answer clear for anyone trying to move assets.
