In brief – The European Union included HTX, the crypto exchange owned and advised by billionaire Justin Sun, in the 21st package of Russia sanctions it adopted Thursday. – Listed under its operator, Huobi Global SA, the exchange was placed on an EU annex of firms “significantly…
ustrating” its Russia sanctions, triggering a transaction ban from August 23 but no asset freeze. – The move follows the UK’s May designation of HTX, which the exchange denies warrants sanctions, saying such actions lack supporting evidence. The European Union has added HTX, the crypto exchange owned and advised by billionaire Tron founder Justin Sun, to its latest round of Russia sanctions
The exchange was caught in the EU’s 21st sanctions package, adopted Thursday, which the bloc called its largest batch of individual listings in four years, at 218. HTX appears under its operator, Huobi Global SA, on an annex of crypto and financial firms the EU accused of “significantly frustrating” its Russia measures. From August 23, people in the EU will be barred from transacting with the exchange, though the listing does not freeze its assets or amount to a full designation.
HTX did not immediately respond to a request for comment. I welcome the agreement on the 21st sanctions package against Russia. At a time when Ukraine has built military momentum, our sanctions continue to weaken the economic foundations of Russia’s war effort.