UK sanctions HTX operator Huobi Global S.A. over Russia

On May 26, 2026, the UK government designated Huobi Global S.A., the Panama-registered entity that operates the HTX crypto exchange, under its Russia sanctions regime. The action imposes UK asset freezes and legal prohibitions on dealing in the entity’s funds or economic resources.

The designation was announced as part of a wider sanctions package that also named other platforms, including EXMO Exchange. A government update listed “Entities and individuals involved in making available funds, economic resources, goods or technology to individuals and entities in the Russian financial sector:…HUOBI GLOBAL S.A.” The notice cited concerns about peer-to-peer trading and other facilitation that could allow sanctions to be evaded.

Designations under the Russia (Sanctions) (EU Exit) Regulations 2019 mean designated entities are subject to asset freezes in the UK and prohibitions on transactions involving their funds or economic resources. British individuals and businesses must immediately stop transactions with Huobi Global S.A. and report any exposure to the Office of Financial Sanctions Implementation (OFSI). Breaches of the rules can lead to civil and criminal penalties.

The listing applies to the Panama-registered company that runs HTX, the exchange formerly known as Huobi Global. Justin Sun, the founder of Tron and a public adviser to HTX with reported ownership ties, is not named in the UK action. The designation directly affects the exchange he publicly promotes and influences.

HTX has faced prior enforcement by the UK Financial Conduct Authority, including allegations of illegal financial promotions to UK consumers, court proceedings and blocks on the app and social media access within the UK.

UK authorities identified specific risks around peer-to-peer activity and other crypto transfer methods that can move value outside traditional banking channels. The sanctions are intended to prevent named platforms from making funds or economic resources available to parts of the Russian financial sector.

The designation restricts Huobi Global S.A.’s ability to hold or transfer assets in the UK and limits formal business with British companies and individuals. The government publishes updates to the sanctions list on GOV.UK and instructed affected parties to consult the official list and OFSI guidance for compliance steps.