The United Kingdom has imposed sanctions on HTX, formerly known as Huobi Global, along with 17 other entities and individuals. The measures target crypto firms accused of aiding Russia in evading Western restrictions and financing its war in Ukraine.
British authorities announced the sanctions package on May 26. It includes Huobi Global S.A., the operator of the HTX exchange, and targets Russia’s use of cryptocurrency networks such as the A7 payments system. Officials said the A7 network moved more than $90 billion last year to support military procurement and oil sales proceeds.
