EU expands HTX crackdown as Russia-linked crypto network keeps shifting its financial rails
The EU has sanctioned HTX’s operator, Huobi Global S.A., in its 21st Russia sanctions package, imposing a transaction ban on EU firms from Aug. 23 without freezing assets. The move follows Britain’s May designation, which linked Huobi/HTX to Russia-sanctions evasion and prompted other exchanges, including OKX, to tighten scrutiny of transfers involving HTX. HTX stayed operational but rapidly rotated wallets across multiple blockchains, making static address blocklists less effective and forcing compliance teams to rely more on transaction patterns and on-chain behavior. The EU package also expands its reach beyond single exchanges. For the first time, Brussels can restrict crypto transactions with providers across an entire third country if local platforms are used to help Russia evade sanctions. The package also targets 14 crypto-related service platforms in several countries and adds four designations tied to the A7 payments network, which is linked to Russian state interests and has expanded in Africa.
