UK sanctions crypto exchange HTX over alleged support for Russian government.
Regulation & Gov ·
On May 26, the UK government sanctioned HUOBI GLOBAL S.A., an entity linked to HTX, alleging it provided financial services, funds or economic resources to A7 Limited Liability Company as part of efforts to disrupt Russia sanctions-evasion networks. The action encompassed other crypto platforms, including Garantex Europe OU, alongside banks and related firms. This sanction followed the FCA's February legal action against HTX over alleged unlawful financial promotions to UK consumers.
The designation targets HTX's ability to operate in UK financial corridors and signals official concern about the platform's compliance with sanctions regimes. Justin Sun holds a position on HTX's global advisory board, though the material does not specify his role or involvement in the sanctioned activities.
Questions remain unresolved: whether additional entities linked to HTX face sanction exposure, the full scope of alleged resource transfers to A7 Limited Liability Company, and what remedial steps HTX intends to take in response.