EU Targets Justin Sun-Linked HTX Over Russian Sanctions Evasion

The Council of the European Union finalized the measures as part of its 21st sanctions package, aimed at closing channels utilized by Moscow to circumvent existing financial barriers. These controls extend to service providers operating out of jurisdictions including Georgia, Panama, the United Arab Emirates, and Belarus. EU authorities have implemented a new mechanism allowing them to prohibit dealings with third-country crypto entities deemed complicit in Russian sanctions evasion.

HTX, which counts Tron founder Justin Sun as a key adviser, has not provided a statement regarding the EU designation. The exchange remains under similar scrutiny in the United Kingdom, where authorities previously froze assets linked to Huobi Global S.A. over alleged dealings with Russian-backed payment networks. While HTX previously asserted that regulatory compliance is its priority, the EU package marks a significant escalation in the bloc’s effort to monitor shadow financial networks. Beyond the exchange, the EU mandate extends to 94 financial institutions and mandates that, effective August 25, Belarusian nationals are prohibited from holding management or ownership roles in any crypto-asset service providers regulated under the Markets in Crypto-Assets framework.