U.K. authorities sanctioned HTX, saying there were "reasonable grounds to suspect" the crypto exchange was helping Russia by cooperating with ruble stablecoin A7A5.

The United Kingdom sanctioned a large crypto exchange, accusing it of "supporting the government of Russia."

British financial institutions are now barred from doing business with the firms—and may face penalties for interacting with crypto transactions that pass through them.

Britain sanctions crypto exchange HTX over Russian support