Britain imposes sanctions on crypto exchange that helped Russia
The British government has added the HTX cryptocurrency exchange to the sanctions list due to its cooperation with and support for Russia. Zamin.uz reported this.
According to British official sources, there are sufficient grounds to believe that this trading platform provided financial services to the Russian government through certain sanctioned companies. Specifically, the exchange is suspected of connections with entities such as Garantex.
This news was widely covered in international publications, including the Cointelegraph website. This exchange, registered in Panama, has become the next entity to be blacklisted as part of the fight against Russia's attempts to bypass restrictions imposed by Britain.
British officials emphasized that the Kremlin cannot escape international restrictions by hiding behind cryptocurrency networks and hidden financial systems. This measure is part of a broader effort aimed at reducing the sources of funding for Russia's military actions.
Russia has been under constant pressure from the European Union and the global community due to the military actions it began in Ukraine in 2022. In April of this year, the European Commission announced a new sanctions package against digital asset operators and stablecoins linked to Belarus.
Such measures allow for the control of fund circulation through the digital economy. The HTX exchange had previously come to the attention of the UK's financial regulatory body.
Legal action was taken against the company for illegally advertising cryptocurrencies on social networks. The British regulator accused the exchange of grossly violating marketing rules and distributing misleading information to consumers.
This is negatively affecting the exchange's reputation on the international stage. Meanwhile, Russian lawmakers are considering measures to establish criminal liability for unlicensed digital asset services.
New draft laws envision restricting cryptocurrency operations for ordinary investors and banning payments made via digital assets. Such changes will serve to further strengthen control over the cryptocurrency market.
