UK sanctioned Huobi Global S.A., alleging links to Russia-linked financial networks tied to sanctions evasion operations. HTX said Huobi Global S.A. is separate from its trading platform and
HTX and Tron founder Justin Sun responded Tuesday after the United Kingdom sanctioned Huobi Global S.A. under Russia-related restrictions. The UK accused the entity of supporting Russia through financial services linked to A7 Limited Liability Company. The sanctions form part of a broader crackdown targeting crypto exchanges, banks, and firms allegedly connected to Russian sanctions-evasion networks.
According to HTX, the UK designation arrived without prior notice or supporting evidence. The exchange stated that Huobi Global S.A. differs from the online HTX trading platform.
HTX said its global operations continue without disruption and added that user funds remain safe. The exchange also stated it would cooperate with law enforcement agencies and comply with applicable laws globally.
An HTX spokesperson further described regulatory compliance as the company’s “absolute top priority.” The spokesperson added that HTX actively monitors legal frameworks across all jurisdictions where it operates.
Meanwhile, the UK government said it had “reasonable grounds” to suspect Huobi Global S.A. supported the Russian government. Authorities linked the entity to financial services provided to A7 Limited Liability Company.
Tron founder Justin Sun, who serves as an adviser to HTX, said he became aware of the developments on Tuesday. Sun added that the relevant team would engage UK authorities to address concerns promptly.
He also repeated HTX’s position on compliance and cooperation with law enforcement agencies worldwide. However, Sun did not comment directly on the allegations tied to Russia sanctions evasion.
The sanctions package also included Garantex Europe OU, Aifory Pro, and Arvix LLC. According to Elliptic, this marked the first time the UK applied Regulation 17A against crypto exchanges.
As scrutiny intensified, OKX issued a notice to users regarding transfers involving HTX. The exchange warned that arbitrage activity between OKX and HTX could trigger additional compliance reviews.
The UK action follows earlier legal pressure on HTX within Britain. In February, the Financial Conduct Authority began proceedings over alleged unlawful financial promotions across several social media platforms.
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