HTX Blocked in EU Over Alleged Sanctions Evasion Help

HTX, an offshore crypto exchange linked to TRON founder Justin Sun, has been added to the EU's latest Russia sanctions package. This move is a result of allegations that HTX helped Russians bypass sanctions. Although the UK froze assets tied to Huobi Global S.A., the Panama-based company behind HTX, two months ago, this new development doesn't freeze the exchange's assets but instead blocks covered transactions involving EU companies and individuals.

The wider package extends transaction bans to 14 crypto platforms outside the bloc and adds four listings connected to the A7 cross-border payment network. Western governments claim Russia has used this network to move money around financial restrictions. HTX was previously included in a UK sanctions package, where authorities said the company had provided services linked to A7 and Garantex, another sanctioned exchange.