Crypto Firm HTX Accused by UK of Helping Russia Move Money (2)

Cryptocurrency firm HTX has been sanctioned by the UK government, who allege that the exchange was part of “infrastructure” used by Russia to circumvent sanctions and helped move $1.5 billion back to the Kremlin.

Huobi Global SA, a Panamanian company that operates HTX, was one of 18 entities sanctioned by the UK’s Foreign Commonwealth and Development Office for helping Russia to evade restrictions designed to stymie its war effort, according to a Tuesday statement.

The sanctions target the A7 network, “a Kremlin-backed system designed to bypass Western sanctions, finance military procurement, and process funds from the sale of oil to ...