EU Widens HTX Crackdown, Restricting Transactions with Sanctioned Entity

The European Union has expanded its crackdown on HTX, following Britain's May sanctions against Huobi Global. The EU has placed Huobi Global S.A., the entity behind HTX, under a transaction ban in its 21st sanctions package adopted July 23.

From Aug. 23, EU operators will be prohibited from transacting with the exchange, though the restrictions stop short of freezing its assets. This move comes after Britain's May action against Huobi Global triggered tighter scrutiny of HTX-related transfers at other major crypto exchanges.

The UK sanctions pushed scrutiny onto counterparties, and Britain's designation showed how restrictions on HTX could quickly spread to businesses and customers outside the exchange.