TLDR
- The UK sanctioned HTX, formerly Huobi Global, over alleged support for Russia-linked financial networks.
- The sanctions are part of a wider package targeting 18 entities and individuals tied to Russia.
- UK firms are barred from doing business with sanctioned crypto exchanges and related entities.
- HTX said regulatory compliance remains a top priority across jurisdictions where it operates.
- The FCA had already taken legal action against HTX over alleged unlawful crypto promotions.
The United Kingdom has sanctioned Huobi Global S.A., a company connected in public reporting to the HTX brand, as part of a wider package targeting crypto platforms, banks and financial networks accused of helping Russia bypass international restrictions.
The sanctions were announced Tuesday and included 18 entities and individuals linked to what UK officials described as shadow financial systems connected to Russia’s war economy. The measures freeze assets and restrict UK firms from processing payments, maintaining correspondent banking relationships or conducting business with the listed entities.
The UK government said it had reasonable grounds to suspect Huobi Global S.A. was involved in activity that benefited or supported the Russian government. Officials said the entity provided financial services or made funds, economic resources, goods or technology available to A7 Limited Liability Company, a Russia-linked firm described as operating in a sector of strategic value to Moscow.
UK Targets Crypto Networks Linked to Russia
The sanctions package also named other crypto-related firms, including Garantex Europe OU, Aifory Pro and Arvix LLC. Blockchain analytics firm Elliptic said the move marks the first time the UK has used Regulation 17A against crypto exchanges.
British officials said the action is focused on payment routes used to move funds, finance procurement and access foreign banking systems despite sanctions. The UK linked part of the network to A7, which has been associated with Russia-focused payment infrastructure and crypto-linked settlement activity.
Foreign Secretary Yvette Cooper said the UK would continue working with allies to expose and disrupt financial networks that support Russia’s war activity. The Russian embassy in London did not immediately respond to media requests for comment.
The sanctions mean UK-regulated financial firms and virtual asset service providers must screen transactions linked to the listed entities. Firms may also be required to freeze funds connected to sanctioned parties and stop services that breach the restrictions.
HTX Responds to UK Sanctions Designation
HTX said it is aware of the UK sanctions designation and remains committed to complying with applicable laws and cooperating with law-enforcement agencies worldwide. The exchange said the UK designation arrived without prior notice or supporting evidence shared with the company.
HTX also said the listed entity, Huobi Global S.A., is distinct from the online HTX exchange. The company said Huobi Global S.A. will work with UK authorities to understand the basis for the action and address any concerns.
As an advisor to the HTX exchange, I was first made aware today of the recent developments and will continue to monitor the situation closely.
We believe in full compliance with all applicable laws and cooperation with law‑enforcement agencies worldwide.
I'm confident that… https://t.co/isgzB1UjjO
— H.E. Justin Sun 👨🚀 🌞 (@justinsuntron) May 26, 2026
The exchange added that the designation does not and should not affect the online HTX exchange. It said global operations remain unaffected and that user funds are safe.
Justin Sun, who serves as an adviser to HTX, said he was first made aware of the developments on Tuesday. He said he would continue to monitor the situation and expressed confidence that the relevant team would work with UK authorities to respond promptly.
HTX said it would continue monitoring the matter and provide updates when necessary.
Prior UK Regulatory Pressure on HTX
The sanctions follow earlier regulatory attention involving HTX in the UK. In February, the Financial Conduct Authority said it had started legal proceedings against the exchange over alleged unlawful financial promotions.
The FCA accused HTX of promoting crypto asset services to UK consumers through its website and social media platforms, including TikTok, X, Facebook, Instagram and YouTube. The regulator did not immediately comment on the latest sanctions package.
The UK’s action comes as regulators continue examining crypto exchanges, payment processors and digital asset networks tied to cross-border money movement. Authorities have focused on whether some platforms are being used to move funds outside traditional banking systems or around sanctions controls.
