The European Union has included cryptocurrency exchange HTX in its latest sanctions package targeting Russia, accusing the platform of significantly undermining restrictions imposed following Russia's invasion of Ukraine.
According to a regulation published in the Official Journal of the European Union, HTX (listed as "HTX (HUOBI GLOBAL SA)") has been added to a group of third-country financial institutions and crypto service providers that allegedly facilitated activities contrary to the EU's sanctions regime.
Beginning August 23, 2026, individuals and companies within the European Union will be prohibited from directly or indirectly conducting transactions with HTX.
The measure does not constitute a full asset freeze or complete sanctions designation, but it significantly limits the exchange's ability to interact with customers and businesses based in the EU.
Limited Withdrawal Window for European Users
The new restrictions provide a temporary path for affected users to recover their assets. Eligible citizens and residents of the European Union, European Economic Area (EEA), and Switzerland may apply for authorization to withdraw funds or close their HTX accounts.
Applications must be submitted within three months after the restrictions take effect, giving existing customers a limited opportunity to exit the platform in compliance with the new rules.
The action forms part of the EU's 21st sanctions package against Russia, adopted on July 23. The package introduced 218 new designations, making it the bloc's largest sanctions expansion in four years, while broadening restrictions on banks, oil traders, cryptocurrency service providers, and other businesses.
HTX Rejects Allegations
HTX has consistently denied allegations that it has assisted sanctioned entities. Earlier this year, following similar action by the United Kingdom, the company stated that Huobi Global S.A. and HTX were separate entities.
The company also described regulatory compliance as an absolute top priority, emphasizing that it follows the legal requirements in every jurisdiction where it operates.
Blockchain Intelligence Report Adds Pressure
The EU decision comes shortly after blockchain intelligence firm TRM Labs published a report involving HTX's wallet activity. According to TRM Labs, the exchange allegedly rotated hot wallets and funding addresses across multiple blockchain networks-including TRON, Ethereum, BNB Smart Chain, and Solana-following earlier UK sanctions.
The report claimed wallet addresses were frequently replaced within hours, making traditional sanctions-screening systems based on static wallet lists less effective.
HTX disputed those findings, stating that the wallet movements represented routine security operations commonly used throughout the cryptocurrency industry, rather than attempts to evade sanctions.
Alongside HTX, the EU also imposed transaction restrictions on several other cryptocurrency platforms, including EXMO, Rapira, BitPapa, Aifory Pro, WhiteBird, NoOnecrypto, and Exnode, with all restrictions scheduled to become effective on August 23.
The sanctions package also introduces a new legal mechanism allowing the European Union to prohibit transactions with crypto service providers operating in jurisdictions that systematically fail to prevent sanctions evasion. While no countries have yet been designated under this new framework, the provision establishes a broader tool the EU could use in future enforcement efforts.
The latest measures demonstrate the European Union's continued focus on tightening oversight of cryptocurrency platforms it believes may facilitate transactions involving sanctioned Russian individuals or organizations.
