EU Targets HTX with Sanctions Amid Escalating Crypto Crackdown

The European Union has expanded its sanctions against Russia by adding HTX to its latest package targeting financial networks. The measures also include several other crypto service providers that allegedly supported sanctions evasion. The EU's move marks another step in its broader effort to tighten restrictions on financial channels linked to Russia's war economy.

HTX is one of the world's largest cryptocurrency exchanges and was added to the list despite remaining operational. The exchange began operations in China in 2013 before changing ownership in later years. Justin Sun assumed control of the platform in 2022, although HTX continues to describe him as an adviser.

The EU's latest sanctions package also targets banks, oil traders, energy revenue channels, and vessels linked to Russia's shadow fleet. Authorities expanded the restrictions as part of wider efforts to limit financial activity supporting Russia's war in Ukraine.