Britain bars financial dealings with HTX and other firms accused of aiding Russian entities bypass international sanctions.
The United Kingdom imposed sanctions on HTX, a major cryptocurrency exchange, for allegedly providing financial services to Russian entities evading sanctions. The move blocks British institutions from engaging with HTX or freezing related transactions.
HTX, founded by Justin Sun, reported over $3 trillion in trading volume last year. The UK government accused HTX of facilitating transactions for A7, a Russian exchange with a ruble-pegged stablecoin linked to sanctions evasion.
The sanctions reflect broader efforts to curb crypto-based financial networks supporting Russia. British Foreign Secretary Yvette Cooper stated the measures aim to dismantle shadow financial systems aiding the Kremlin.