EU Widens Crackdown on Russia-Linked Crypto Network HTX

The European Union has expanded its crackdown on HTX, widening the scope of Russia-linked crypto network sanctions. The bloc has placed Huobi Global S.A., the entity behind HTX, under a transaction ban in its 21st sanctions package adopted July 23.

This move follows Britain's May action against Huobi Global, which triggered tighter scrutiny of HTX-related transfers at other major crypto exchanges.

HTX has been accused of supporting Russian sanctions evasion, with the UK authorities saying they had reasonable grounds to suspect the exchange provided financial services to entities linked to Russia's financial system, including the A7 cross-border payments network.

HTX sought to distance itself from Huobi Global by stating that 'The listed entity Huobi Global S.A. is distinct from the online HTX exchange.'