EU Slams Door on HTX as Russian Sanctions Tighten

The European Union has added HTX, formerly known as Huobi Global, to its list of entities providing crypto-asset services in defiance of sanctions against Russia. The move comes after the UK already sanctioned the exchange and amid ongoing global efforts to isolate Russia financially over its war with Ukraine.

According to an EU decision, HTX is one of 18 entities that are 'significantly frustrating' the purpose of prohibitions against Russia by providing crypto-asset services or payment services established outside the Union. The sanctions target entities that facilitate a continued financial lifeline for Russia's war efforts, whether by connecting to the Central Bank of the Russian Federation's system for transfer of financial messages or enabling the circumvention of EU restrictive measures.

HTX has stated its commitment to regulatory compliance and adherence to frameworks in all jurisdictions. The exchange was also sanctioned by the UK in May, citing 'reasonable grounds to suspect' that it supported Russia's government through financial services and funds facilitated by sanctioned entities.