HTX Crypto Platform Added to EU's Russian Sanctions List
Previously sanctioned by British authorities, HTX now appears among 18 organizations accused of offering cryptocurrency and payment solutions in violation of European Union restrictions on Russia.
HTX, the cryptocurrency trading platform previously known as Huobi Global, has been designated by the European Union as part of a sanctions package directed at Russia in connection with its ongoing military conflict in Ukraine.
Through a decision issued on Thursday, the European Council modified its existing measures "in view of Russia's actions destabilizing the situation in Ukraine" to incorporate HTX among 18 organizations "providing crypto-assets services or payment services established outside of the Union that are significantly frustrating the purpose of the prohibitions" levied against Russia. The nation remains subject to international sanctions connected to its military invasion of Ukraine that commenced in 2022.
The Union has repeatedly taken measures to identify financial institutions, credit institutions or entities providing crypto-asset services or payment services that facilitate a continued financial lifeline for Russia's war of aggression against Ukraine, whether by connecting to the system for transfer of financial messages of the Central Bank of the Russian Federation or by enabling the circumvention of Union restrictive measures, and to prohibit any transaction between those institutions or entities and Union operators.
EU officials
In previous statements to Cointelegraph, HTX has indicated that "regulatory compliance remains [its] absolute top priority" and confirmed that the platform will "proactively monitor and strictly adhere to regulatory frameworks in all jurisdictions."
The decision to sanction HTX occurred on the same day European Union authorities declared they would ban Belarusian citizens and residents from possessing, controlling or overseeing cryptocurrency trading platforms and digital asset service providers in accordance with the region's Markets in Crypto Assets (MiCA) framework.
Similar restrictive measures were imposed on HTX by the UK government in May, with officials stating there were "reasonable grounds to suspect" that the platform provided support to Russia's government through the utilization of financial services and resources facilitated by sanctioned organizations.