- The UK sanctioned Panamanian entity Huobi Global S.A. for allegedly providing financial services to firms tied to Russia.
- HTX claims the sanctioned entity is distinct from its online exchange, but legal filings contradict this.
- Huobi Global S.A. is listed as the entity that “owns and operates HTX” in a recent court claim.
- The entity is the trademark holder for HTX in the US and was incorporated in May 2023.
The United Kingdom sanctioned the Panamanian entity Huobi Global S.A. in May 2026 for its alleged role in providing financial services to firms in a strategic Russian sector. Consequently, the UK Foreign Office accused the entity of interacting with the A7 Payment Network and Russian exchange Garantex.
However, the associated cryptocurrency exchange HTX publicly responded that “the listed entity Huobi Global S. A. is distinct from the online HTX exchange.” It insisted global operations remain unaffected and user funds are safe. Meanwhile, Huobi Global S.A. is the trademark holder for HTX in the United States.
Most strikingly, a February 2026 legal filing contradicts HTX’s public statement. In a court claim for burned USDT tokens, lawyers for Huobi Global S.A. described it as the entity that “owns and operates HTX…and is the developer of the Huobi Eco Chain.” Consequently, this direct claim was made mere months before HTX asserted the entities were separate.
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