The European Union has added crypto exchange HTX to its Russia sanctions regime, prohibiting people and companies in the bloc from transacting with the platform beginning next month.
The EU identified "HTX (HUOBI GLOBAL SA)" among a group of third-country financial institutions and crypto service providers that it said were significantly frustrating restrictions imposed over Russia’s invasion of Ukraine, according to a regulation published in the bloc’s Official Journal. The restriction takes effect on Aug. 23.
Under the applicable rules, EU operators will be barred from engaging directly or indirectly in transactions with HTX. The measure stops short of a full designation or asset freeze, Reuters reported. Eligible EU, European Economic Area and Swiss nationals and residents may seek authorization to withdraw funds or close accounts, but must apply within three months of the ban taking effect.
The legal document’s identification of the exchange as "HTX (HUOBI GLOBAL SA)" contrasts with a statement an HTX spokesperson gave The Block after the United Kingdom sanctioned Huobi Global S.A. in May. The spokesperson said at the time that Huobi Global S.A. was distinct from HTX.
Ursula von der Leyen, president of the European Commission, first announced the sanctions package in June and said it would extend to 20 non-EU entities, including banks, crypto platforms, and oil traders that have been servicing sanctioned Russian entities and individuals, but did not name HTX at the time.
