19 Hrs
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الاقتصادية
EU targets HTX cryptocurrency exchange
The European Union has imposed sanctions on the HTX platform, one of the largest cryptocurrency exchanges in the world, for its involvement in helping Russian individuals and entities bypass financial sanctions imposed on Moscow following the outbreak of the war in Ukraine. The platform has been listed among 18 companies providing cryptocurrency-related services as part of Europe's efforts to tighten regulation of the crypto sector and prevent the use of cryptocurrencies for money transfers outside the official financial system to evade restrictions. HTX, formerly known as "Huobi," is one of the largest digital asset trading platforms, and billionaire Justin Sun's stake in the company increased to full control in 2022. Although the current measures do not include freezing the platform's assets, they reflect growing pressure from Western governments against using cryptocurrencies for illegal money transfers, especially amid increasing sanctions on Russia, following similar sanctions imposed on the platform by the United Kingdom last May.
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