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 suspec...