UK authorities sanction HTX crypto exchange over support for Russia

Formerly Huobi Global, the exchange is the latest entity to be named as part of a crackdown on companies “exploited by Russia to circumvent UK sanctions.”

The UK government has added cryptocurrency exchange HTX to its list of sanctioned entities over its support of Russia.

On Tuesday, UK authorities said that there were “reasonable grounds to suspect” HTX, formerly Huobi Global, has been supporting Russia’s government through financial services and funds facilitated by the A7 Limited Liability Company and Garantex, other sanctioned entities. The crypto exchange, headquartered in Panama, was the latest to be named as part of a crackdown on entities “exploited by Russia to circumvent UK sanctions.”

“If the Kremlin thinks it can evade our sanctions by hiding behind crypto networks and shadow financial systems, it is gravely mistaken,” said UK Foreign Secretary Yvette Cooper.

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