Cryptocurrency exchange Binance has announced
restrictions on transactions involving 17 crypto-asset service providers and
platforms, citing recent regulatory developments across multiple jurisdictions.
In a notice issued to users on Saturday, Binance said
the restrictions would be introduced in phases, with different entities
affected from specific dates. However, the exchange did not provide details of
the regulatory developments that led to the restrictions.
The first restrictions took effect on August 7,
affecting Shelbit General Trading LLC, which operates in the United Arab
Emirates and Iran, as well as Iran-based Aban Tether Exchange.
From August 13, Binance extended the restrictions to
Nigeria-based A7 Nigeria, A7 Africa and PilotFinance Ltd.
Beginning August 23, the measures also applied to
several other platforms, including Georgia-based Rapira and Aifory Pro,
operated by Sooty Ltd.
Other entities listed by Binance include ABCeX, which
has links to El Salvador and Georgia; Belarus-based WhiteBird and Tradex; and
NoOnecrypto INC., which operates internationally.
The exchange also named Monease Ltd in the United
Kingdom, UAE-based BitPapa, Georgia-based Exnode and Exnode Pay, HTX (Huobi
Global SA), founded in China, and EXMO Ltd, which operates in the UK and
Europe.
Binance instructed users not to directly or indirectly
send funds to, receive funds from, or otherwise conduct transactions through
the exchange involving any of the listed entities after their respective
effective dates.
The company warned that transactions attempted after
the specified dates could be held and subjected to compliance reviews.
According to Binance, affected wallets may also be
restricted while reviews are ongoing, while transactions involving prohibited
entities could potentially constitute a violation of the exchange’s terms of
use.
The cryptocurrency exchange further advised users not
to disclose or share their Binance wallet addresses with third parties or
platforms in a manner that could associate them with the restricted service
providers.
Binance warned that exposing wallet addresses could
increase users’ vulnerability to dusting attacks or unauthorised account
activity.
The company said the restrictions were necessary to
comply with regulatory requirements in the jurisdictions where it operates and
to maintain the security of users and their assets.
Binance advised customers with questions about the
restrictions to contact its support team for further clarification.
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