UK Imposes Sanctions on Crypto Exchange HTX Over Alleged Ties to Russian Financial Networks

The UK government has taken action against HTX, a leading cryptocurrency exchange, as part of its efforts to enforce sanctions against Russia.

According to official documents, the UK authorities believe there are reasonable grounds to suspect that HTX provided financial services or economic resources connected to entities linked to the Russian economy.

The designation, which was published on 26 May under The Russia [Sanctions] [EU Exit] Regulations 2019, targets HUOBI GLOBAL S.A., also identified as HTX (formerly Huobi).

As part of the sanctions package, the UK has imposed an asset freeze, director disqualification sanctions, trust services sanctions, and correspondent banking restrictions.

The designation also introduces internet services sanctions, requiring UK-based internet providers, social media platforms, and app stores to take reasonable steps to prevent UK users from accessing HTX-related services and applications.