EU Sanctions HTX Cryptocurrency Exchange in Sweeping Russia Package
The European Union has intensified its sanctions regime against Russia, targeting cryptocurrency exchange HTX and 13 other crypto service providers. The move is part of a new package aimed at disrupting Russia's financial sector and evading existing sanctions.
The EU accuses the designated entities of facilitating sanctions circumvention by enabling Russians to move funds outside traditional banking channels. This marks an escalation against Russia's financial and banking sector, which Brussels views as central to Moscow's war economy.
The package introduces a new framework allowing broader third-country restrictions on crypto platforms aiding Russia. The EU could prohibit any transactions between EU operators and designated crypto providers used by Russia, effectively isolating them from the European market.