The UK sanctioned 18 entities connected to the “A7” network, while blockchain analytics firms Global Ledger and TRM Labs reported billions of dollars in Russia-linked crypto flows involving HTX. The sanctions include asset freezes and restrictions on British firms processing related transactions.

HTX Denies Russia Sanctions Claims

HTX pushed back against allegations tied to a new UK sanctions package after the British government accused affiliate Huobi Global S.A. of helping facilitate billions of dollars in transactions linked to Russia’s shadow financial network. The dispute started after the UK Foreign, Commonwealth and Development Office (FCDO) announced sanctions against 18 entities allegedly connected to the “A7” network,…