TLDR
- The UK government sanctioned HTX over alleged financial services linked to Russia.
- Authorities said HTX had connections to A7 Limited Liability Company and Garantex Europe OU.
- The sanctions include an asset freeze, trust services restrictions, and banking limits.
- UK internet providers and app stores must restrict access to HTX-related services.
- HTX was already facing FCA legal action over alleged illegal crypto promotions.
UK authorities have sanctioned HTX, formerly Huobi Global, after accusing the crypto exchange of supporting Russia through financial services linked to sanctioned networks.
According to the UK government’s sanctions notice published on May 26, Huobi Global S.A., also identified as HTX, was added under the Russia Sanctions EU Exit Regulations 2019. The notice said authorities had “reasonable grounds to suspect” the Panama-registered exchange had provided financial services or economic resources connected to A7 Limited Liability Company and Garantex Europe OU.
UK Foreign Secretary Yvette Cooper said the government would act against crypto networks and shadow finance systems used to bypass sanctions on Russia. “If the Kremlin thinks it can evade our sanctions by hiding behind crypto networks and shadow financial systems, it is gravely mistaken,” Cooper said in the statement.
The designation places HTX inside the UK’s expanding Russia sanctions regime, which has targeted companies accused of helping Moscow access financial channels after its 2022 invasion of Ukraine. The UK filing said the action formed part of efforts against entities “exploited by Russia to circumvent UK sanctions.”
UK Targets HTX With Asset Freeze and Service Restrictions
According to the UK sanctions filing, the measures against HTX include an asset freeze, director disqualification sanctions, trust services restrictions, and correspondent banking prohibitions. The notice also blocks UK financial institutions from maintaining correspondent banking links with the designated entity or processing payments connected to it.
The UK government also imposed internet services sanctions. Under those measures, UK-based internet providers, social media platforms, and app stores must take reasonable steps to restrict access by UK users to HTX-related services and applications.
Authorities named A7 Limited Liability Company and Garantex Europe OU in the statement of reasons tied to HTX. Garantex has previously faced international sanctions scrutiny over alleged illicit finance activity and links to Russia-based financial networks.
At the time of writing, HTX had not issued a public response to the UK designation.
The European Commission also announced crypto-related sanctions in April against stablecoin and digital asset operators linked to Russia and Belarus. Those measures included action connected to A7A5, a stablecoin tied to Russian-linked financial activity.
FCA Case Adds to HTX’s UK Regulatory Pressure
The latest sanctions add to HTX’s existing problems with UK authorities. In 2025, the Financial Conduct Authority opened legal proceedings against the exchange over alleged illegal crypto promotions aimed at UK consumers.
According to the FCA, HTX promoted crypto services across TikTok, X, Facebook, Instagram, and YouTube without following UK marketing rules. The watchdog said the activity breached restrictions designed to control how crypto products are advertised to local users.
The UK government’s May 26 action shows that HTX now faces both regulatory and sanctions pressure in the country. While the FCA case focused on consumer promotions, the sanctions notice tied the exchange to financial services allegedly connected to Russia’s sanctioned economic networks.
In Russia, lawmakers advanced digital asset bills in April that would tighten control over crypto activity inside the country. The proposals included possible criminal penalties for unlicensed digital asset services and registration requirements with the Russian central bank.
Russian lawmakers also passed first-reading measures that would limit retail investor access to certain crypto products and reinforce the country’s ban on digital asset payments. Those developments came as Western governments continued to pressure crypto platforms accused of helping sanctioned entities move funds.