The United Kingdom has sanctioned Huobi Global S.A. under Russia-related restrictions, prompting a response from HTX, which said the named entity is separate from its online trading platform and that user funds remain safe.
The UK said it had “reasonable grounds” to suspect Huobi Global S.A. supported the Russian government through financial services tied to A7 Limited Liability Company. The move is part of a wider enforcement push targeting crypto exchanges, banks, and other firms allegedly connected to sanctions-evasion networks linked to Russia.
HTX disputes link to its trading platform
HTX said the designation arrived without prior notice and without supporting evidence. The exchange maintained that Huobi Global S.A. is not the same as the HTX online platform, and said its global operations continue without disruption. It also stated that it would cooperate with law enforcement agencies and comply with applicable laws in the jurisdictions where it operates.
An HTX spokesperson described regulatory compliance as the company’s “absolute top priority” and said the firm actively monitors legal frameworks across all markets where it does business. The statement reflects HTX’s effort to separate the sanctioned entity from its current exchange operations.
Justin Sun says team will contact UK authorities
Justin Sun, founder of Tron and an adviser to HTX, said he became aware of the development on Tuesday. He said the relevant team would engage with UK authorities to address concerns as quickly as possible. Sun also repeated HTX’s position on compliance and cooperation with law enforcement worldwide, but did not directly address the allegations related to Russian sanctions evasion.
The sanctions package also named Garantex Europe OU, Aifory Pro, and Arvix LLC. Blockchain analytics firm Elliptic said this was the first time the UK had applied Regulation 17A against crypto exchanges.
Compliance checks tighten across exchanges
As scrutiny increased, OKX sent a notice to users about transfers involving HTX. The exchange said arbitrage activity between OKX and HTX could trigger extra compliance reviews.
The UK action follows earlier pressure on HTX in Britain. In February, the Financial Conduct Authority began proceedings over alleged unlawful financial promotions across several social media platforms.