Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended all transaction processing for 17 crypto-asset service providers across Nigeria, the United Arab Emirates, Iran, the United Kingdom, and several other jurisdictions.
The exchange cited mandatory regulatory compliance as the trigger for the sweeping restrictions, which hit three entities operating within Nigeria. The phased rollout began in early August 2026, driven by an accelerating international crackdown by United States and European Union regulators against platforms facilitating flows to sanctioned entities.
The action leaves users attempting to move assets between Binance and any of the blacklisted operators facing automated compliance freezes and account reviews.
The restrictions began on 7 August 2026, when Binance blocked transactions connected to Shelbit General Trading LLC (operating in the UAE and Iran) and Iran-based Aban Tether Exchange.
A second phase was enforced on 13 August 2026, directly targeting three Nigeria-linked operators: A7 Nigeria, A7 Africa (which also operates in Zimbabwe), and Lagos-based PilotFinance Ltd.
The final phase took effect on 23 August 2026, extending the ban across 12 additional international platforms:
- Georgia & El Salvador: Rapira, Aifory Pro (Sooty Ltd.), Exnode, Exnode Pay (Arvix), and ABCeX (Nueva Cryptologia S.A.S DE C.V.).
- Belarus: WhiteBird and Tradex (Brightum LLC).
- United Kingdom & Europe: Monease Ltd and EXMO Ltd.
- Global & UAE: BitPapa (UAE), HTX / Huobi Global SA (founded in China), and NoOnecrypto INC.
In an official compliance notice issued to users, Binance warned customers to cease all interaction with the targeted platforms.
“Binance is required to adhere to the regulatory requirements in the jurisdictions in which it operates,” the company stated. “These measures are necessary to meet those requirements and to help maintain a safe and secure environment for our users and their assets.”
“Any transactions attempted on or after these dates may be held and subject to a compliance review,” Binance warned, adding that affected user accounts and wallet addresses could be locked while investigations proceed.
The exchange explicitly warned users against publishing or sharing wallet addresses with third parties to avoid inadvertent association with the prohibited entities, which could trigger automatic account flags or “dusting” attacks.
While Binance did not provide detailed individual allegations against each of the 17 platforms, the global blacklist aligns directly with recent enforcement actions by Western financial authorities.
On 7 August 2026, the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Dubai-based exchange Shelbit and Iran’s Aban Tether Exchange for allegedly facilitating covert financial transactions on behalf of Iran’s Islamic Revolutionary Guard Corps (IRGC).
Simultaneously, the European Union implemented its 21st sanctions package against Russia on 23 July 2026, barring European institutions from transacting with secondary crypto platforms—including PilotFinance Ltd, Rapira, WhiteBird, and BitPapa—alleged to facilitate circumvention schemes.
The severed ties mark another operational hurdle for Binance in the Nigerian market, where it has faced intense scrutiny from anti-money laundering authorities, tax regulators, and foreign exchange compliance enforcement.
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