EU Crackdown: HTX Exchange Hit by New Sanctions Over Russia Ties

The European Union has officially added the HTX cryptocurrency exchange to its growing list of sanctions targeting Russia. In a strategic move to curb financial support for the war in Ukraine, the European Council identified HTX as one of 18 entities providing crypto-asset services that actively undermine EU restrictive measures.

This escalation follows similar actions taken by the UK and highlights the intensifying global scrutiny on crypto-asset services used to bypass economic warfare tools. By targeting entities that facilitate a financial lifeline for Russia, the EU is tightening the noose on digital assets used to circumvent international prohibitions.

EU authorities have included the HTX exchange, formerly Huobi Global, in a new package of sanctions aimed at Russia. In a decision announced Thursday, the European Council amended its existing measures to include HTX among 18 entities providing crypto-asset or payment services outside the Union that are 'significantly frustrating the purpose of the prohibitions' against Russia.

The EU stated it is committed to identifying financial institutions and crypto-asset service providers that facilitate a continued financial lifeline for Russia's war of aggression. This includes blocking any transactions between Union operators and entities that enable the circumvention of restrictive measures or connect to the Russian Central Bank's financial messaging systems.