UK sanctions Huobi Global S.A., operator of HTX, over alleged role in Russia’s “A7” shadow network, as new analysis claims the exchange handled billions in high‑risk flows.
Sanctioned crypto exchange HTX is pushing back against the United Kingdom’s decision to blacklist Huobi Global S.A., the Panamanian company behind the platform, over allegations it helped Russia move money through a shadow “A7” network.
In its latest Russia sanctions package on May 26, the UK accused Huobi Global of providing financial services and economic resources to entities already under restrictions for supporting Moscow’s war economy.
The government said it was targeting “crypto and illicit finance networks” exploited by Russia, including the Kremlin-backed A7 “shadow” system that helps channel funds into the country’s war economy.
