The UK sanctions 18 entities related to Russia, for the first time applying banking-style restrictions to cryptocurrency exchanges

According to CoinDesk, the UK has imposed sanctions on 18 entities and individuals accused of assisting Russia in evading Western restrictions and funding its war in Ukraine, including the cryptocurrency exchange Huobi Global S.A. (operator of HTX) and the stablecoin issuer Open Joint Stock Company "Virtual Asset Issuer."

This is the first time the UK has applied Regulation 17A, which targets sanctioned banks, to cryptocurrency exchanges, requiring UK financial institutions and cryptocurrency service providers to freeze relevant funds, track on-chain transactions, and not maintain agency relationships or process payments related to sanctioned entities. The sanctions primarily target the A7 payment network.

According to the official announcement from Huobi HTX, the sanctioned "Huobi Global S.A." and the online Huobi HTX exchange are independent entities, and this sanction will not affect the online Huobi HTX exchange. Currently, Huobi HTX's global operations are normal, and user funds are safe and secure.