EU trading restrictions on Huobi and new Binance rules take effect
EU trading restrictions on platforms including Huobi, as well as Binance's rule on halting direct fund transfers with Huobi, have officially taken effect.
EU trading restrictions on platforms including Huobi, as well as Binance's rule on halting direct fund transfers with Huobi, have officially taken effect.
An announcement from Binance requires users, starting from August 23, not to transfer funds to Huobi through Binance or to receive funds from Huobi. Transactions in violation may be temporarily held and reviewed, and the accounts concerned may also be restricted.
On July 23, 2026, the EU adopted its 21st package of sanctions against Russia, adding Huobi (HTX), banning EU persons from trading with it from August 23, but without freezing its assets.
On May 26, 2026, the UK government added Huobi Global, which operates Huobi (HTX), to its sanctions list, on the grounds that it provided funding and financial services to the Russian government.
According to tracking by Nansen, hours before the HT flash crash, addresses linked to Justin Sun transferred about $60 million in stablecoins out of Huobi and into the Aave platform.
The Huobi HT token suffered a flash crash, with its price falling from $4.8 to $0.31 at one point, a drop of about 93%.
During the fork dispute in the Steem community, Justin Sun, together with Binance, Huobi, and Poloniex, used exchange-custodied Steem tokens to vote, overthrowing the community-elected witnesses.