EU Imposes Transaction Ban on HTX and 10 Other Crypto Platforms

The European Union has imposed a transaction ban on HTX and 10 other crypto platforms, effective August 23. This move is part of the EU's sanctions push against Russia-linked entities, specifically targeting the A7 network.

HTX, along with exchanges like EXMO, Rapira, BitPapa, and others, has been added to the EU's 21st Russia sanctions package. The ban stops short of a full asset freeze but makes it difficult for these platforms to operate.

Major exchanges have already started tightening compliance around Russia-linked crypto flows, with Binance being one of them. However, it is unclear whether Binance has made an official public announcement cutting off HTX and other affected platforms.

The A7 network is suspected of moving $90 billion into Russia's economy through crypto in 2025, according to Chainalysis. HTX was also accused of channeling more than $1.5 billion to Russia through flows tied to Grinex and Garantex.