Crypto holders face an August 23 deadline to figure out who controls HTX or risk violating EU sanctions
An EU transaction ban takes effect Aug. 23 against “HTX (HUOBI GLOBAL SA)” under Regulation 833/2014, covering dealings by EU persons, entities, and activities in EU territory. The Council says the package extends transaction bans to 14 crypto service platforms. Because the listing uses a combined name, customers must determine whether Huobi Global S.A. is actually the counterparty or custodian in their HTX dealings. HTX previously said in response to a UK designation that Huobi Global S.A. was separate from its platform, but UK proceedings alleged Huobi Global S.A. became HTX’s owner, operator, and controller. A UK court also described Huobi Global S.A. as the likely owner and HTX as holding traced bitcoin, though ownership was not finally decided. HTX’s terms now define “HTX Operators” vaguely and say customer crypto is held by “us,” while excluding EU users from services. If Huobi Global S.A. is involved, affected transactions must stop Aug. 23 unless an exception applies. EU, EEA, and Swiss customers may seek authorization to withdraw funds and close accounts within three months, with proceeds sent to eligible EU-linked institutions.
