EU Slaps Sanctions on Crypto Exchange HTX Over Alleged Ties to Russia

The European Union has added cryptocurrency exchange HTX to its list of sanctioned entities in response to Russia's ongoing war against Ukraine. The decision was made as part of a package of sanctions targeting Russia, with HTX being one of 18 entities providing crypto-assets services or payment services that are frustrating the purpose of EU restrictions.

HTX, formerly known as Huobi Global, has previously stated its commitment to regulatory compliance and will continue to monitor and adhere to regulatory frameworks in all jurisdictions. The exchange had already been sanctioned by the UK government in May, with officials citing 'reasonable grounds to suspect' that HTX supported Russia's government through financial services and funds facilitated by sanctioned entities.

The EU has taken measures to identify financial institutions and entities providing crypto-asset services or payment services that facilitate a continued financial lifeline for Russia's war against Ukraine. The sanctions aim to prohibit any transactions between these institutions and Union operators, in compliance with the region's Markets in Crypto Assets (MiCA) framework.