The UK government targets HTX and other crypto platforms for allegedly aiding Russia sanctions evasion networks.
The UK sanctioned HUOBI GLOBAL S.A., the entity behind crypto exchange HTX, on May 26 for providing financial services to A7 Limited Liability Company. The move is part of a broader crackdown on Russia sanctions-evasion networks involving crypto platforms, banks, and related firms.
This follows the FCA’s February legal action against HTX for alleged unlawful financial promotions to UK consumers. The sanctions also include Garantex Europe OU and other entities. Justin Sun, a member of HTX’s global advisory board, was not directly named in the action.
The UK government has intensified efforts to disrupt financial networks supporting Russia amid ongoing geopolitical tensions.