HTX Stops Serving Russian Clients After EU Sanctions and Binance Transaction Ban

Russian users of HTX, the former Huobi, have started receiving notices telling them to withdraw assets within seven working days. After that, with no exact date given, the exchange says it will restrict withdrawals and begin blocking accounts.

1. In July, HTX was added to the European Union sanctions package, with the platform accused of helping Russian authorities and businesses bypass sanctions. The ban on transactions with the platform for companies and residents of EU countries took effect on 23 August.
2. In August, Binance, the world’s largest crypto exchange, said it would stop processing transactions involving HTX. Even so, TRM Labs, a US blockchain company, said the former Huobi continued serving clients from Russia and had rebuilt its infrastructure to обход sanctions.
3. HTX is the third major exchange in a week to announce it is stopping work with Russian clients. Bitget and MEXC had already taken similar steps.
4. According to experts quoted by RBC, at least three more international exchanges — OKX, KuCoin and Bybit — may soon restrict or fully stop servicing Russian residents, citing tighter Russian state regulation and the risk of sanctions exposure.