EU Sanctions Crypto Exchange HTX Over Russia Ties
The European Union has imposed sanctions on Justin Sun's crypto exchange HTX, formerly known as Huobi. The move targets entities suspected of helping Russia bypass sanctions amid the Ukraine conflict.
HTX is accused of facilitating Russian users to evade restrictions, making it one of the world's largest crypto exchanges included in the EU's latest sanctions. This development follows similar sanctions by the UK earlier this year but does not include asset freezes or a full designation.
HTX claims compliance with regulations and is expected to respond to the EU's actions as crypto regulations tighten post-MiCA deadline. The inclusion of HTX in the EU's sanctions raises concerns about the exchange's role in helping Russia circumvent restrictions, sparking debate among industry experts.