On July 23, the European Union adopted its 21st sanctions package targeting Russia, which includes a ban on transactions with crypto exchange HTX starting August 23.
The regulation appeared in the EU's Official Journal, revealing HTX (listed as HUOBI GLOBAL SA) among fourteen crypto platforms accused of undermining sanctions linked to Russia’s invasion of Ukraine.
Other affected exchanges include EXMO, Rapira, BitPapa, Aifory Pro, WhiteBird, NoOnecrypto, and Exnode. The measures do not impose a full asset freeze but allow EU, EEA, and Swiss residents to withdraw funds or close accounts within three months.
This sanctions package broadens the EU's authority to block dealings with crypto providers from countries that fail to prevent platforms from bypassing sanctions, though no countries are currently listed under this provision.
The entire package is the largest in four years, listing 48 individuals and 170 entities, freezing assets at 94 banks and financial institutions, and extending transaction bans to 33 more Russian credit bodies.
The sanctions also include new designations related to the cross-border A7 network, which Chainalysis estimates handled nearly $120 billion, involving the ruble-backed A7A5 stablecoin.
HTX’s sanctioning follows similar UK actions against Huobi Global S.A. in May. Security firm TRM Labs reported that HTX rotated hot wallets across multiple blockchains like Tron, Ethereum, BNB Smart Chain, and Solana to evade detection.
These developments come shortly after Russia’s State Duma passed the country’s first full crypto regulations, with most rules taking effect September 1, after prior moves to formalize digital asset laws.
This material is for informational purposes and does not constitute financial advice.
