UK Sanctions HTX Exchange and Russian Crypto Networks Under Russia Sanctions Regime

The UK government sanctioned Huobi Global S.A., which operates HTX exchange advised by Justin Sun, on May 26, 2026 under its Russia sanctions regime for alleged sanctions evasion and ties to Russian financial networks. The designations marked the first time crypto exchanges have been sanctioned under this framework, according to blockchain analytics firm Elliptic. Also sanctioned were Bitpapa IC FZC LLC, Exmo Exchange Limited, Aifory LLC, and Rapida Group LLC.

UK sanctions announcement

• ▪The UK government sanctioned several crypto firms on May 26, 2026 under its Russia sanctions regime
• ▪The May 26, 2026 UK sanctions marked the first time the relevant legislation has been used against cryptocurrency exchanges, according to blockchain analytics firm Elliptic

Sanctioned crypto entities

• ▪Rapira Group LLC was sanctioned by the UK government on May 26, 2026
• ▪Exmo Exchange Limited was sanctioned by the UK government on May 26, 2026