Binance to block transactions with HTX, 10 other exchanges

[Chibit01]

I say make I bring this news come here. Binance to block transactions with HTX, 10 other exchanges under EU Russia sanctions

Restrictions on Shelbit and Aban Tether Exchange took effect August 7, while A7 Nigeria, A7 Africa and PilotFinance Ltd. were cut off as of August 13.

Beginning August 23, the list expands to include Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode/Exnode Pay, HTX (Huobi Global SA) and EXMO Ltd.

A lot of people here are still making use of Binance even as they don't support NGN in their P2P again. This news shared above is for awareness purposes of some of the exchanges which have been rejected by Binance from receiving deposit or sending payment in their due to EU sanction, some of us might be using those exchanges, as I personally make use of one on the list, to avoid sending money from one of them, and it turns to issue that might lead to permanent losing of the money is better to take caution.

[coinlary]

This is important.

You forget to add this part  from same source :
"The move follows the EU’s sanctioning of HTX in July for allegedly helping Russia circumvent sanctions, in part by allegedly providing financial services for A7 Limited Liability Company, a Russia-linked cross-border payments firm, seemingly connected to A7 Nigeria and A7 Africa.

Nearly every firm blocked by Binance, outside of Shelbit and Aban, was also named in the EU’s updated sanctions list. The EU accused these entities of "frustrating" restrictions related to Russia’s invasion of Ukraine "

In bold is the reason why they were also sanctioned, before it was only HTX,A7 Nigeria and A7 Africa. You may want to watch out for other exchanges operating under EU , not only Binance .

[Exitoral]

Why always Binance. Not hearing things like this to BuyBit or theirs is on the way. Businesses are under subjection from the country they operate or want to operate in. That's just the summary of everything. It's very important that we read important news about centralised exchanges so you don't get cut up in their web. As it stands we can't completely eliminate using centralised platforms because one way or the other we want to change our coin to our local currency. Except whoever you are dealing with uses Crypto too.

Always check, you could imagine that Binance was once accepting and sending to those banned exchanges now they don't. Which we always emphasis that keeping funds in centralised exchanges possess a greater risk to your funds. Self custody is replaces all of this without the worry that your funds might go missing. Businesses built around cryptocurrency weighs risk that majority of the time, the customers always have the greater risk than the company itself.

This is important.

You forget to add this part  from same source :
"The move follows the EU’s sanctioning of HTX in July for allegedly helping Russia circumvent sanctions, in part by allegedly providing financial services for A7 Limited Liability Company, a Russia-linked cross-border payments firm, seemingly connected to A7 Nigeria and A7 Africa.

Nearly every firm blocked by Binance, outside of Shelbit and Aban, was also named in the EU’s updated sanctions list. The EU accused these entities of "frustrating" restrictions related to Russia’s invasion of Ukraine "

In bold is the reason why they were also sanctioned, before it was only HTX,A7 Nigeria and A7 Africa. You may want to watch out for other exchanges operating under EU , not only Binance .

Binance wasn't necessarily the problem. They operate under the EU jurisdiction. One needs to watch out for exchanges operating under EU. Binance have had some if not all their freedom taken from them. That begs the question, are any exchanges ever free? All operate under one jurisdictions or the other. The painful part is that customers like I have pointed out will bear much risk as partaining to this sanctions.

[Samuel47]

Binance to block transactions with HTX, 10 other exchanges Starting August 23, Binance will stop processing deposits and withdrawals involving HTX and 10 other crypto platforms to comply with new European Union sanctions targeting Russia. Transfers attempted after the deadline may face compliance reviews and wallet blocks, though user tokens and normal trading remain active like HTX formerly huobi or exmo rapira aifory pro Ab ex whitebird Necrotic tradex monetise bit papa Ex node just try and understand bitcoin

[Bitcoin-Forever]

All these are teaching us the lesson that we need to avoid the use of custodial wallet and fully go into non-costal, if you don't want to be affected by any government regulation or action against the use of Bitcoin or any other crypto, then try as much as possible to be in control of your coins, I know Russia has been through a lot during an after this Ukraine war, facing sanction it's not as easy as we may think, but when there is a Way out by the use of Bitcoin in performing cross border transactions, the length at which they will be affected will drastically be minimized than when they rely on the local Fiat currency.

[BIT-BENDER]

I say make I bring this news come here. Binance to block transactions with HTX, 10 other exchanges under EU Russia sanctions

Restrictions on Shelbit and Aban Tether Exchange took effect August 7, while A7 Nigeria, A7 Africa and PilotFinance Ltd. were cut off as of August 13.

Beginning August 23, the list expands to include Rapira, Aifory Pro, ABCeX, WhiteBird, NoOnecrypto, Tradex, Monease, BitPapa, Exnode/Exnode Pay, HTX (Huobi Global SA) and EXMO Ltd.

A lot of people here are still making use of Binance even as they don't support NGN in their P2P again. This news shared above is for awareness purposes of some of the exchanges which have been rejected by Binance from receiving deposit or sending payment in their due to EU sanction, some of us might be using those exchanges, as I personally make use of one on the list, to avoid sending money from one of them, and it turns to issue that might lead to permanent losing of the money is better to take caution.

Sanctions like this is a reminder that not your wallet not your funds, imagine the exchange where you keep you funds just start sanctioning all your route that you can use to withdraw then you would be financially wrecked.
Although it's just an imagination but it is one to tell you that the exchange has so much control of all assets in their possession even if the account is yours they won't consult you before taking any action the feel right for them.

[Btcdeybodi]

Sanctions like this is a reminder that not your wallet not your funds, imagine the exchange where you keep you funds just start sanctioning all your route that you can use to withdraw then you would be financially wrecked.
Although it's just an imagination but it is one to tell you that the exchange has so much control of all assets in their possession even if the account is yours they won't consult you before taking any action the feel right for them.

You're right but in cases like this, an exchange must inform their customers of the recent development just as Binance has done. Anyone who understands the risks associated with crypto exchanges will never leave their coins on those platforms but you also need to know that we can't not completely avoid these exchanges since we will need to trade cryptocurrencies and also perform p2p transactions so the best thing to do is just to keep your Bitcoin in self custody wallets, whenever you need to perform any transaction in an exchange, you can just send it there, that way you will not be caught up in situations like this especially when you didn't get the information early enough.

However, Binance is beginning to lose it's customers due to this constant succumbing to government directives. Though I don't blame them because they are licensed by the European Union’s Markets in Crypto-Assets (MiCA) framework, so they have to follow instructions from the EU.

[Freeveto]

However, Binance is beginning to lose its customers due to this constant succumbing to government directives. Though I don't blame them because they are licensed by the European Union’s Markets in Crypto-Assets (MiCA) framework, so they have to follow instructions from the EU.

This means that our crypto in Binance and other exchanges are not only being controlled by Binance but by EU since they give instructions and Binance have to abide by their instructions.
It’s high time to start learning or adopting the use of decentralized exchanges to send our crypto since Binance now will have to tell you the exchanges they want and the once they don’t instead of just wallet address and send or receive. I think it’s high time we remember these phrase I used to see here “not your keys, not your bitcoins”.

[Princess Leah]

All these are teaching us the lesson that we need to avoid the use of custodial wallet and fully go into non-costal, if you don't want to be affected by any government regulation or action against the use of Bitcoin or any other crypto, then try as much as possible to be in control of your coins, I know Russia has been through a lot during an after this Ukraine war, facing sanction it's not as easy as we may think, but when there is a Way out by the use of Bitcoin in performing cross border transactions, the length at which they will be affected will drastically be minimized than when they rely on the local Fiat currency.

Is there anyone here that's not a trader who uses Binance for storage? I'm just curious cause it would be very risky for a long term holder to do that, exchanges doesn't support self custody so doing that means leaving the security of what you're holding to another person which is not a good idea, long term holders should take self custody seriously and use wallets that are very secured from hackers.

 But those who trade with Binance might have nothing to worry about this news cause they can still chose to send their coins to wallets that are not listed in the OP's information.

[coinlary]

Binance wasn't necessarily the problem.

Never mentioned Binance was the problem though , they are just following rules and orders just like every other Centralized  platforms  would at anytime.

One needs to watch out for exchanges operating under EU.

Yes, and I mentioned that too. So far EU already added those platforms to their list, then it directly affect every exchange operating under EU unless they also want to end up on the list.

Binance have had some if not all their freedom taken from them. That begs the question, are any exchanges ever free?

Yes, DEX are .
Not all though.
I mean the reputable ones that won't secretly serve  as honeypot.

[Nwada001]

This is serious and I hope this just ends with the few exchanges which are listed here and it don’t get expanded to some other service which accept crypto, imagine trying to send in money from an exchange and you get blocked without even knowing,  this exchanges should also do justice to send mail across to us not everyone that will be able to get this news.

Binance to block transactions with HTX, 10 other exchanges Starting August 23, Binance will stop processing deposits and withdrawals involving HTX and 10 other crypto platforms to comply with new European Union sanctions targeting Russia. Transfers attempted after the deadline may face compliance reviews and wallet blocks, though user tokens and normal trading remain active like HTX formerly huobi or exmo rapira aifory pro Ab ex whitebird Necrotic tradex monetise bit papa Ex node just try and understand bitcoin

What’s the point of this post? Copying part of the article added on the op and pasting it, that’s plagiarism.

[Pearl_20]

Is there anyone here that's not a trader who uses Binance for storage?

Of course there are people that still stores their bitcoins on centralized exchanges. You think that those people that are usually affected when an exchange experience a hack are all traders, but no, some of them are actually people that are holding their coins. The reason why some people hold their coins in a CEX is because they have the mindset that keeping it there will help them to sell quickly when the market is experiencing an uptrend instead of the delay of sending coins from a self custody wallet which will take some time before it will confirm and by the time they might want to sell the coin, the market would have falling back again so they don't mind taking the risk even when they know that centralized exchanges can be vulnerable to attacks at any time.

[EarnOnVictor]

A lot of people here are still making use of Binance even as they don't support NGN in their P2P again. This news shared above is for awareness purposes of some of the exchanges which have been rejected by Binance from receiving deposit or sending payment in their due to EU sanction, some of us might be using those exchanges, as I personally make use of one on the list, to avoid sending money from one of them, and it turns to issue that might lead to permanent losing of the money is better to take caution.

"Where two elephants fight, it's the grass there that sufferers," that's what I can say here. I don't know how the permanent loss of money applies in this situation, but there should have been an automatic warning from both sides to avoid customers suffering it. I wouldn't blame Binance here at all, as the company is only trying to comply with international regulations, and if you followed the situation closely, you would know it's even 16 exchanges, and US is also fully involved to disrupt crypto transactions of Russia and Iran, among others. Besides, it's not Binance alone doing this, but many other global exchanges.