EU Hits Crypto Exchange HTX with Sanctions Over Russian Evasion Claims

The European Union has added HTX to its list of sanctioned entities, targeting companies allegedly involved in helping Russia evade financial restrictions.

HTX, previously known as Huobi, was founded in China and acquired by Hong Kong billionaire Justin Sun in 2022. The exchange is among the 18 companies named by the EU for assisting Russians in sidestepping sanctions imposed on Russia.

The latest round of EU sanctions against Russia underscores a growing international focus on cryptocurrency's role in sanction evasion, despite HTX's operations remaining legally unscathed as no asset freeze was involved.