UK sanctions Huobi Global S.A.; HTX assures user funds safe

HTX wrote in a statement that user funds remain secure after the UK on May 26, 2026 designated Panama-registered Huobi Global S.A., an entity linked to the HTX brand, under its Russia sanctions regime. The exchange said the listed Panama company is legally separate from the online HTX trading platform and that the designation should not affect HTX’s global operations.

The exchange wrote the UK action “arrived today without prior notice or any supporting evidence” and reiterated that Huobi Global S.A. is distinct from the online HTX exchange. HTX added Huobi Global S.A. will engage with UK authorities to understand and address the designation and that the HTX platform remains operational with user funds secure.

The UK listed Huobi Global S.A. as part of a wider package targeting entities alleged to support Russia’s financial sector and enable sanctions evasion through cryptocurrency channels. The designation was made under the Russia (Sanctions) (EU Exit) Regulations 2019 and names HUOBI GLOBAL S.A. among entities “involved in making available funds, economic resources, goods or technology to individuals and entities in the Russian financial sector.”

Under UK rules, designated entities face immediate asset freezes and a prohibition on dealing in funds or economic resources linked to them. British individuals and firms must stop transactions with listed entities and report any exposure to the Office of Financial Sanctions Implementation. Civil and criminal penalties apply for noncompliance.

Justin Sun, founder of Tron and a prominent adviser to HTX with known ownership ties, was not listed personally by the UK. The designation focuses on the Panama-registered Huobi Global S.A., which is publicly associated with HTX’s broader corporate structure.

UK regulators previously took enforcement action related to HTX, including measures tied to illegal financial promotions to UK consumers, court proceedings and blocks on apps and social channels. The new designation creates additional sanctions-related obligations for UK-linked counterparties and service providers.

Sanctions can limit access to banking, payments and liquidity for designated entities; firms sometimes respond by tightening geographic restrictions and compliance controls. HTX did not announce immediate changes to product availability or user geographies and advised users and partners to consult official sanctions lists and local regulator guidance.