UK Sanctions HTX Crypto Exchange Over Alleged Russia-Linked Financial Support

UK sanctions HTX over Russia-related crypto activity

The UK government has placed HTX, formerly known as Huobi Global, under sanctions over allegations that the crypto exchange supported Russia through financial services linked to already sanctioned entities.

British authorities said there were “reasonable grounds to suspect” that HTX facilitated funds connected to A7 Limited Liability Company and Garantex, both previously sanctioned for alleged involvement in helping Russia bypass restrictions. The move is part of a wider UK crackdown on companies believed to be used to avoid sanctions imposed after Russia’s military action in Ukraine.

UK Foreign Secretary Yvette Cooper said Russia would not be allowed to escape sanctions through crypto systems or hidden financial networks.

HTX responds to UK allegations

HTX, headquartered in Panama, said regulatory compliance remains its highest priority. A company spokesperson stated that the exchange actively monitors and follows legal requirements in every region where it operates, including the UK.

The sanctions mark another regulatory challenge for HTX. In 2025, the UK’s Financial Conduct Authority launched legal action against the exchange over alleged illegal crypto promotions on social media platforms, including TikTok, X, Facebook, Instagram and YouTube.

Russia crypto regulations tighten amid sanctions pressure

Russia continues to face financial restrictions from Western countries over the Ukraine conflict. At the same time, Russian lawmakers are considering stricter crypto rules that may introduce criminal penalties for unlicensed digital asset services and tighter limits for retail investors.