EU Adds HTX to Russia Sanctions, Stopping Short of UK-Style Asset Freeze

The European Union has added HTX (formerly Huobi) to its list of sanctioned entities in an effort to restrict Russia's access to cryptocurrency and financial services. This move is part of a larger package of measures aimed at disrupting the flow of funds to Moscow, which includes freezing assets or banning transactions for over 90 banks and major financial institutions.

The EU's decision follows a similar action taken by the UK in May, which accused HTX of facilitating money laundering and sanctions evasion related to Russian funds worth more than $1.5 billion between 2021 and 2026. The UK had also imposed an asset freeze on Huobi-linked flows, but the EU has stopped short of taking this step.

HTX, one of the largest cryptocurrency exchanges in the world, was previously controlled by Justin Sun, who is now described as an adviser to the company. The exchange's statement following the UK sanctions emphasized its commitment to compliance with regulations in all jurisdictions where it operates.