The UK government has formally sanctioned the cryptocurrency exchange HTX, previously known as Huobi Global, for allegedly assisting Russia in evading sanctions. This action is part of a broader initiative aimed at targeting entities that facilitate financial support for Russia amid ongoing international sanctions related to the conflict in Ukraine.
On May 26, 2026, UK authorities expressed concerns that HTX has been linked to the Russian government through financial services provided via the A7 Limited Liability Company and Garantex, both of which are also under sanctions. UK Foreign Secretary Yvette Cooper emphasized the futility of attempting to bypass sanctions using crypto networks.
HTX, operating from Panama, claims to prioritize regulatory compliance across all jurisdictions, including the UK. Previously, the Financial Conduct Authority in the UK had initiated proceedings against HTX in 2025 for improper crypto promotions on various social media platforms.
In related developments, Russian lawmakers have proposed new legislation that could impose criminal penalties on unlicensed digital asset services, which suggests an increasing regulatory focus on cryptocurrency within Russia.