Binance Ends Transactions With 16 Platforms, Warns of Wallet Reviews

Key Takeaways

• Binance restrictions cover 16 platforms across three effective dates.
• Attempted transfers may trigger reviews and wallet restrictions.
• U.S. and U.K. sanctions target Iranian and Russian crypto networks.

Binance Sets Three Deadlines for Transaction Restrictions

Transactions involving 16 crypto-asset service providers will no longer be processed through Binance under restrictions announced Aug. 14. The exchange instructed users not to send funds to, receive assets from, or otherwise engage directly or indirectly with the named entities after their respective effective dates.

Restrictions took effect Aug. 7 for Shelbit, operated by Shelbit General Trading LLC, and Aban Tether Exchange. Binance applied a second deadline on Aug. 13 to A7 Nigeria, A7 Africa and Pilotfinance Ltd., followed by an Aug. 23 cutoff covering 11 more platforms, including HTX, EXMO, Rapira, Aifory Pro, ABCeX, and WhiteBird.

The remaining Aug. 23 entities are Noonecrypto Inc., Tradex, Monease Ltd., Bitpapa and Exnode, including Exnode Pay. Binance cautioned:

“Any transactions attempted on or after these dates, may be held and subject to a compliance review. Restrictions may be applied to the impacted wallet(s) while the review is ongoing and such activity may also constitute a breach of Binance Terms of Use.”