The European Union added HTX, the crypto exchange owned and advised by billionaire Tron founder Justin Sun, to its 21st Russia sanctions package adopted Thursday. Listed under its operator Huobi Global SA, the exchange was placed on an EU annex of firms accused of 'significantly frustrating' Russia sanctions, triggering a transaction ban from August 23 but no asset freeze. The move follows the UK's May designation of HTX and comes as the EU expands crypto enforcement, adding 14 platforms and targeting the A7 cross-border network in its largest individual listings batch in four years at 218 entities.
EU's 21st Sanctions Package Targets 218 Entities Including HTX
The EU's 21st sanctions package, adopted Thursday, included HTX under its operator Huobi Global SA on an annex of crypto and financial firms the bloc accused of 'significantly frustrating' its Russia measures. From August 23, people in the EU will be barred from transacting with the exchange, though the listing does not freeze its assets or amount to a full designation. EU foreign policy chief Kaja Kallas stated, 'We're hitting over a hundred banks and crypto operators. With each round of sanctions, we squeeze Russia's economy and its capacity to prolong its illegal war.'
The package extended the EU's transaction ban to 14 crypto-related service platforms based in Georgia, Panama, the UAE, the Marshall Islands, Kyrgyzstan, and Belarus. It added four designations tied to the A7 cross-border network, citing its new links to Africa. For the first time, the EU raised the possibility of imposing a full ban on a third country's crypto services, framing it as a deterrent to jurisdictions hosting platforms helping Moscow evade restrictions. The bloc called the package its largest batch of individual listings in four years, at 218.
UK Sanctioned HTX in May, TRM Labs Reported Wallet Activity
The UK sanctioned HTX in May, the first time Britain applied the measure to an exchange of that scale, flagging it as suspected of channeling more than $1.5 billion to the Kremlin and accusing it of servicing A7, whose ruble-pegged stablecoin A7A5 experts say Moscow uses to move money. HTX, formerly Huobi and founded in China in 2013, is one of the world's largest exchanges, reporting more than $3 trillion in trading volume in 2025.
The EU listing landed two days after blockchain intelligence firm TRM Labs said HTX had 'rebuilt its on-chain plumbing' since the UK action, cycling hot wallets across TRON, Ethereum, BNB Smart Chain, and Solana fast enough that address screening 'cannot keep pace.' At the time, TRM noted that neither Washington nor Brussels had designated the exchange—a gap the bloc has now partly closed.
HTX Denies Sanctions Warrant, Claims Operations Unaffected
HTX rejected the accusations, telling Decrypt the wallet activity reflected 'routine, security-driven platform operations.' After the UK action, HTX claimed that Huobi Global S.A. was 'distinct from the online HTX exchange,' with user funds safe and operations unaffected. The UK's Office of Financial Sanctions Implementation emphasized that Huobi's ownership of HTX makes the exchange subject to its sanctions regime. HTX did not immediately respond to a request for comment on the EU listing.
Justin Sun Settled SEC Fraud Case for $10 Million This Year
Justin Sun, whose U.S. fraud case was settled by the SEC this year for $10 million, was once a prominent backer of the Trump family's World Liberty Financial before that relationship curdled into dueling lawsuits. For now, the U.S. Treasury's OFAC has yet to move against HTX, leaving enforcement uneven across jurisdictions.
FAQ
What did the EU do to HTX on Thursday?
The European Union added HTX, listed under its operator Huobi Global SA, to its 21st Russia sanctions package adopted Thursday. The exchange was placed on an EU annex of firms accused of 'significantly frustrating' Russia sanctions, triggering a transaction ban from August 23 but no asset freeze.
Why did the UK sanction HTX in May?
The UK sanctioned HTX in May, flagging it as suspected of channeling more than $1.5 billion to the Kremlin and accusing it of servicing the A7 cross-border network, whose ruble-pegged stablecoin A7A5 experts say Moscow uses to move money.
How did HTX respond to the sanctions accusations?
HTX rejected the accusations, telling Decrypt that wallet activity reflected 'routine, security-driven platform operations.' After the UK action, HTX claimed Huobi Global S.A. was 'distinct from the online HTX exchange,' with user funds safe and operations unaffected.
