From August 23, 2026, the European Union prohibits transactions with HTX (Huobi Global SA) and ten other crypto and payment platforms under updated sanctions against Russia. Users holding balances on these platforms have until that date to withdraw funds without authorization; afterward, withdrawals require approval from the Deutsche Bundesbank and must be sent to EU-regulated financial institutions. This move legally enforces what some platforms had already done by blocking EU users, and it affects both individuals and companies, though only natural persons have a clear withdrawal route. The regulation aims to prevent circumvention of sanctions and may trigger tax events for users forced to sell assets. Investors should check their holdings and act before the deadline to avoid complications.
HTX, formerly known as Huobi, has faced enforcement actions by the UK's Financial Conduct Authority (FCA) for allegedly providing financial services to Russia-linked firms and illegal financial promotions. The FCA has banned HTX from operating in the...
Binance will stop all deposits and withdrawals involving HTX and ten other platforms starting August 23, 2026, due to sanctions related to HTX's founder Justin Sun and ties to Russia. This move has already reduced liquidity in HTX's ETH trading book,...
