Key facts
- Binance is restricting transactions with HTX and EXMO.
- Bitget is restricting transactions with HTX and EXMO.
- The restrictions are due to regulatory actions.
- EU sanctions against Russia are a cited reason for the restrictions.
- US sanctions related to Iran are a cited reason for the restrictions.
- The restrictions are being implemented in staggered phases.
- The phased implementation mirrors compliance directives from Western regulators.
Binance and Bitget are implementing restrictions on transactions involving HTX, EXMO, and a number of other cryptocurrency platforms. These actions are being taken in response to regulatory pressures, specifically citing EU sanctions against Russia and US sanctions related to Iran. The crypto exchanges are rolling out these restrictions in a phased approach. This staggered implementation is intended to mirror and comply with directives issued by Western regulators. The move signifies a broader trend of increased scrutiny and compliance requirements within the cryptocurrency industry, particularly concerning platforms operating in or facilitating transactions with sanctioned entities or jurisdictions.