The EU’s Official Journal lists HTX, identified as HTX (Huobi Global S.A.), among entities that the bloc considers to be significantly undermining the effectiveness of restrictive measures imposed on Russia.
The transaction ban will take effect on August 23, 2026. From that date, individuals and companies under EU jurisdiction will generally be prohibited from conducting direct or indirect transactions with HTX. The measure does not amount to a comprehensive asset freeze against the exchange. Competent national authorities may grant authorisations allowing eligible nationals and residents of EU member states, European Economic Area countries and Switzerland to withdraw funds held with affected institutions. Each authorisation may be valid for a maximum period of three months.
HTX Included Among 14 Restricted Crypto Platforms
HTX is one of 14 crypto-related service platforms subjected to transaction restrictions under the European Union’s 21st sanctions package against Russia, adopted on July 23. Other platforms listed in the relevant annex include EXMO, Rapira, BitPapa, Aifory Pro, WhiteBird, NoOnecrypto and Exnode, among others.
The broader package contains 218 new individual listings, including 48 individuals and 170 entities, representing the European Union’s largest batch of such listings in four years. The measures expand restrictions covering Russia’s banking system, crypto networks, energy revenues, oil traders and other financial channels that the EU believes are being used to circumvent sanctions.
EU Introduces Wider Third-Country Crypto Mechanism
The package also establishes a legal mechanism that could allow the EU to prohibit transactions with crypto-asset service providers in a third country if that jurisdiction is found to be systematically failing to prevent platforms from helping Russia evade sanctions. No country has yet been added under this broader mechanism. It is legally separate from the transaction bans imposed on the 14 individually named crypto platforms.
UK Sanctioned Huobi Global in May
The EU action follows sanctions imposed by the United Kingdom on Huobi Global S.A. on May 26, 2026. British authorities said they had reasonable grounds to suspect that the entity supported the Russian government by providing financial services or making funds and economic resources available to A7 Limited Liability Company and Garantex Europe OÜ.
A7 is a Russia-linked cross-border payment network associated with the ruble-pegged A7A5 stablecoin. Western authorities and blockchain analytics companies have scrutinised the network over allegations that it enables international payments outside conventional financial channels.
TRM Labs Tracks HTX Wallet Rotation
Two days before the EU announced its latest measures, blockchain intelligence company TRM Labs published an analysis of HTX’s onchain activity following the UK designation.
TRM said the exchange had repeatedly rotated hot wallets, deposit addresses and funding addresses across TRON, Ethereum, BNB Smart Chain and Solana. According to the company, some addresses were used for only a few hours before being retired, making it difficult for compliance systems relying on static lists of sanctioned wallet addresses to track the exchange’s current infrastructure.
TRM characterised this activity as an attempt to stay ahead of address-based sanctions screening. HTX disputed that interpretation, with a spokesperson describing the wallet changes as routine, security-driven platform operations commonly used across the cryptocurrency industry.
HTX Says Compliance Remains a Priority
Following the earlier UK sanctions, HTX said regulatory compliance remained a top priority and that it proactively monitored applicable restrictions in the jurisdictions where it operated. The exchange also rejected allegations that it had directly supported the A7A5 stablecoin. HTX said the project had applied for a listing but was rejected following the exchange’s internal due-diligence and compliance review.
An A7A5 representative separately confirmed that the project had approached several major centralized exchanges but faced rejections because platforms were concerned about potential secondary sanctions.
Russia Adopts Domestic Crypto Market Framework
Russia is taking a different approach to the cryptocurrency sector. On July 21, the State Duma adopted legislation establishing a regulated domestic framework for trading, custody, brokerage and other digital-asset services.
Most provisions are scheduled to take effect on September 1, 2026. Cryptocurrency will be treated as an investment asset, while its use as a means of payment for goods and services inside Russia will remain prohibited. The framework allows licensed exchanges, brokers, asset managers, digital depositories and registered crypto exchanges to provide cryptocurrency services under the supervision of the Bank of Russia.
Non-qualified investors will be permitted to purchase selected highly liquid cryptocurrencies after passing a suitability test, subject to a limit of 300,000 rubles per year through each intermediary. Qualified investors will have broader access, although they will also be required to complete risk testing.
The legislation also permits cryptocurrencies to be used in certain international trade settlements, providing Russian exporters and importers with an additional channel for conducting cross-border transactions amid restrictions affecting the country’s access to traditional financial infrastructure.
Conclusion: The EU’s action against HTX represents a targeted transaction ban rather than a comprehensive asset freeze, but it significantly increases the exchange’s regulatory and operational risks in Europe. Together with the earlier UK designation and scrutiny of HTX’s onchain infrastructure, the measure shows that sanctions enforcement is increasingly shifting from individual wallet addresses toward platform-level restrictions and behavioural blockchain analysis.
