HTX, the crypto exchange tied to Justin Sun, faces a transaction ban from the European Union effective August 23. This move is part of the EU's 21st sanctions package targeting 18 crypto and payment service providers accused of helping Russia bypass financial restrictions related to the Ukraine conflict.
The ban restricts all EU-based individuals and entities from engaging with HTX but stops short of freezing the exchange’s assets. Users have a roughly 30-day window from July 24 to August 23 to withdraw funds and close positions.
Founded in 2013 as Huobi and rebranded to HTX last year after Justin Sun's significant stake purchase, the platform reported $3.3 trillion in trading volume during 2025, highlighting its major role in the crypto market. The sanctions also align with similar UK measures taken back in May, targeting linked entities connected to Russian networks under investigation for sanctions avoidance.
The EU's action forms part of an intensifying crackdown on digital channels used to evade sanctions, also addressing Belarusian nationals in crypto. European users relying on HTX must act fast to avoid breaching new restrictions.
