EU adds HTX to sanctions list, barring transactions from Aug. 23

The European Union just put HTX on its sanctions list, making it the latest crypto exchange to get caught in the crossfire between Western regulators and Russia’s financial networks. Starting August 23, all transactions between EU citizens or entities and the platform will be prohibited.

HTX is one of 18 crypto and payment service providers named in the EU’s 21st sanctions package, adopted on July 24. The stated reason: these entities are allegedly helping Russia circumvent the financial restrictions imposed over the ongoing conflict in Ukraine.

What the sanctions actually do

This isn’t a full asset freeze. The listing specifically bars EU-based individuals and entities from transacting with HTX, but it stops short of freezing the exchange’s assets entirely. HTX can still operate, just not with anyone under EU jurisdiction.

The ban covers a roughly 30-day wind-down period from the July 24 announcement to the August 23 enforcement date. European users with funds on HTX have about a month to figure out their next move.

The EU isn’t acting in isolation here. The United Kingdom designated Huobi Global S.A., the entity operating HTX, back on May 26. The UK’s reasoning centered on suspected links to Russian networks, including A7 and Garantex, both of which have been under scrutiny for allegedly facilitating sanctions evasion.

The exchange behind the sanctions

HTX has had quite the journey. Founded in 2013 in China by Leon Li under the name Huobi, the platform rebranded to HTX in September 2023. The name change came after Justin Sun acquired a significant stake in the operation in 2022.

This is not a small platform. HTX reported $3.3 trillion in trading volume throughout 2025.

The 21st sanctions package also targets Belarusian nationals operating within the crypto sector, reinforcing the EU’s broader thesis that digital assets have become a meaningful vector for sanctions circumvention.

What this means for investors

For European traders currently using HTX, the immediate priority is straightforward. Get your assets off the platform before August 23 or risk being in violation of EU sanctions.

The 18 entities named in this package represent one of the largest single actions targeting crypto platforms in the context of Russia sanctions.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.