- UK sanctions HTX and other crypto firms over alleged Russia-linked financial activity.
- British regulators tighten crypto payment restrictions under Regulation 17A rules.
- HTX also faces UK regulatory pressure after FCA action over alleged illegal crypto promotions.
The United Kingdom expanded its Russian sanctions regime by targeting several crypto-related entities, including crypto exchange HTX, as part of its effort to disrupt financial networks allegedly connected to Moscow’s war economy. British authorities accused the exchange of providing financial services and economic resources linked to entities operating in sectors considered important to the Russian government.
According to the sanctions notice, the UK government imposed restrictions on Huobi Global S.A., now operating under the HTX brand, over alleged ties to A7 Limited Liability Company. Officials described A7 as part of a Kremlin-backed payments network accused of supporting Russian financial operations and facilitating transactions tied to oil sales and military procurement.
UK Expands Restrictions on Crypto and Financial Entities
The sanctions package included multiple firms and individuals operating across different jurisdictions. British authorities named entities registered in the United Arab Emirates, Georgia, and Kyrgyzstan, alongside several Russia-focused financial platforms and crypto-related businesses.
Among the firms listed were Arvix LLC, Alistera Limited, Sooty Ltd, Trace Road LLC, and Open Joint Stock Company Eurasian Savings Bank. Authorities accused the companies of supporting Russia’s financial sector by providing financial services, economic resources, or related technology.
British officials additionally sanctioned individuals, including Igor Olegovich Gorin, Irina Rafaelyevna Akopyan, Sergey Mendeleev, and Liran Cohen.
Under Regulation 17A, UK financial institutions and crypto exchange service providers are prohibited from keeping correspondent relationships with designated entities. The measures also block payment processing involving sanctioned companies and introduce additional compliance obligations for firms operating in digital asset markets.
HTX Faces Additional Scrutiny in the UK
The latest sanctions add to the existing regulatory pressure facing HTX in Britain. Earlier in 2025, the UK’s Financial Conduct Authority opened legal proceedings against the exchange over alleged illegal crypto promotions directed at UK consumers.
According to the FCA, the exchange promoted crypto services on platforms including TikTok, X, Facebook, Instagram, and YouTube without complying with local financial marketing regulations. British regulators said the activity violated rules governing the advertisement of crypto-related products and services to UK users.
The Russian embassy in London criticized the sanctions package, calling the measures unlawful and ineffective. Meanwhile, British officials said they would continue targeting financial networks they believe support Russia’s military and economic operations.
Related: UK Regulator Sues HTX in London High Court Over Unauthorized Crypto Promotions
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