HTX Denies UK Sanctions Allegations as Data Links Exchange to Russia-Linked Flows
Cointelegraph
HTX has rejected UK sanctions alleging it facilitated Russia-linked financial flows, while new data suggests the exchange processed billions in high-risk transactions.Summary
HTX is contesting UK sanctions that blacklisted its parent company, Huobi Global S.A., over claims it facilitated funds for Russia’s war economy through the "A7" network. While HTX insists these sanctions apply only to a separate legal entity and do not affect its current operations, a report from Global Ledger alleges that the exchange processed over $7.6 billion in funds linked to Russian entities and darknet markets between 2021 and 2026. This adds to existing regulatory pressure, including ongoing UK High Court proceedings regarding alleged breaches of financial promotion rules.
(Source：Cointelegraph)