The UK government has added cryptocurrency exchange HTX to its list of sanctioned entities over its support of Russia.
On Tuesday, UK authorities said that there were “reasonable grounds to suspect” HTX, formerly Huobi Global, has been supporting Russia’s government through financial services and funds facilitated by the A7 Limited Liability Company and Garantex, other sanctioned entities. The crypto exchange, headquartered in Panama, was the latest to be named as part of a crackdown on entities “exploited by Russia to circumvent UK sanctions.”
“If the Kremlin thinks it can evade our sanctions by hiding behind crypto networks and shadow financial systems, it is gravely mistaken,” said UK Foreign Secretary Yvette Cooper.
An HTX spokesperson told Cointelegraph:
“Regulatory compliance remains our absolute top priority at HTX. We proactively monitor and strictly adhere to regulatory frameworks in all jurisdictions where we operate globally, including the UK.”
Source: HTX Global
Russia continues to face sanctions by multiple countries in the European Union and globally over its military actions in Ukraine, launched in 2022. In April, the European Commission announced a package of crypto-related sanctions targeting stablecoins like A7A5 and digital asset operators linked to Belarus.
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HTX has previously been a target of the UK’s Financial Conduct Authority, which in 2025 opened legal proceedings against the company for illegal crypto promotions on social media. The UK watchdog said HTX had pushed promotions on TikTok, X, Facebook, Instagram and YouTube, in violation of marketing rules.
Russia could criminalize crypto activities with new legislation
In April, Russian lawmakers advanced measures that could allow authorities to impose criminal penalties on unlicensed digital asset services and mandate registration with the country’s central bank. The proposals came alongside bills that passed first reading in the lower house of parliament, imposing limits on crypto for retail investors and reinforcing a prohibition on digital asset payments.
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