UK sanctions crypto exchange HTX over alleged financial ties to Russia, freezing assets and restricting services.

The UK government has sanctioned the crypto exchange HTX, formerly known as Huobi Global, accusing it of providing financial services linked to Russia and sanctioned entities A7 Limited Liability Company and Garantex Europe OU. The sanctions include an asset freeze, director disqualifications, trust service restrictions, and bans on correspondent banking, alongside internet access restrictions for UK users. This move is part of the UK’s broader effort to block financial channels supporting Russia amid its invasion of Ukraine. HTX is also facing legal action from the UK’s Financial Conduct Authority for allegedly illegal crypto promotions. These combined pressures highlight increasing regulatory scrutiny on crypto platforms connected to Russia.