The EU has included the HTX crypto exchange in a new sanctions package against Russia. According to Brussels, the exchange is among the list of companies that could help Russian users bypass sanctions restrictions.
At the same time, there is no need to exaggerate the impact of this decision. This is not about completely blocking HTX’s operations or automatically freezing its assets. It is one element of the sanctions regime that increases pressure on infrastructure that, in the EU’s view, is used to circumvent restrictions.
Notably, this is not the first such case for HTX. Earlier, the exchange was hit by sanctions from the UK, and now similar allegations have also emerged from the European Union.
A few years ago, regulators mostly targeted individual crypto wallets. Now, all-increasingly, the focus is shifting to entire exchanges. This shows that crypto infrastructure is becoming more deeply integrated into the global financial system—along with all its regulatory risks.
If you’re interested in such analyses without information noise, follow @MoonMan567
At the same time, there is no need to exaggerate the impact of this decision. This is not about completely blocking HTX’s operations or automatically freezing its assets. It is one element of the sanctions regime that increases pressure on infrastructure that, in the EU’s view, is used to circumvent restrictions.
Notably, this is not the first such case for HTX. Earlier, the exchange was hit by sanctions from the UK, and now similar allegations have also emerged from the European Union.
A few years ago, regulators mostly targeted individual crypto wallets. Now, all-increasingly, the focus is shifting to entire exchanges. This shows that crypto infrastructure is becoming more deeply integrated into the global financial system—along with all its regulatory risks.
If you’re interested in such analyses without information noise, follow @MoonMan567
