HTX Adds Russia to Restricted Jurisdictions After Bitget and MEXC

• HTX has added Russia to its restricted jurisdictions, potentially limiting account access and withdrawals for affected individuals and businesses.
• Bitget and MEXC also restricted Russian market access in October, citing prohibited jurisdictions and regulatory compliance concerns.
• Analysts point to rising regulatory and sanctions risks, though there is no evidence of coordinated action among the exchanges.

HTX has added Russia to its restricted jurisdictions, allowing the cryptocurrency exchange to limit services for Russian users. According to Russian business outlet RBC, the restrictions cover individuals residing in or located in Russia, alongside companies registered or primarily operating there. The move follows similar decisions by Bitget and MEXC in October, although HTX’s effective date remains unspecified.

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HTX Agreement Allows Account Closures and Withdrawal Suspensions

According to HTX’s user agreement, the exchange may restrict access, suspend withdrawals, or close accounts belonging to affected users. The agreement also allows HTX to change its restricted jurisdictions list without notifying customers individually.

The list includes the United States, the United Kingdom, the European Union, Singapore, Hong Kong, Iran, Syria, and other countries and territories. These restrictions apply to both individuals and businesses meeting the agreement’s location or registration criteria.

HTX maintains separate restrictions on derivatives trading, which involves financial instruments linked to asset price movements. Those limits cover users from Taiwan, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and New Zealand.

Founded in 2013 as Huobi, the exchange adopted the HTX name in 2023. Its services include spot cryptocurrency trading, futures, other derivatives, blockchain-related services, investments, and cryptocurrency storage.

Bitget and MEXC Also Restrict Russian Market Access

HTX’s decision follows restrictions announced by Bitget and MEXC earlier in October. Bitget added Russia, Belarus, and Kazakhstan to its prohibited jurisdictions list and advised affected clients to withdraw their funds by October 21.

MEXC announced its withdrawal from the Russian and Belarusian markets on October 20. The exchange cited improvements to its regulatory compliance system as the reason for its decision.

Analysts Point to Regulatory and Sanctions Risks

Experts attributed Bitget’s and MEXC’s departures to increased regulatory and sanctions risks. Nikita Zuborev, senior analyst at Bestchange.ru, said other international exchanges could follow, although no signs indicate coordinated action.

RBC did not specify when HTX’s restrictions took effect. The exchange’s agreement states that restricted jurisdictions may change based on its policies and services in each market. It directs users to check the latest information on its platform or within the agreement.