UK sanctions Huobi and ruble stablecoin issuer in crackdown on Russia crypto networks
The UK has imposed sanctions on 18 entities, including the crypto exchange Huobi, for their involvement in helping Russia evade financial restrictions related to its war in Ukraine. This marks the first time the UK has applied banking-style sanctions to cryptocurrency exchanges, requiring financial firms to freeze funds and trace transactions. The sanctions specifically target the A7 payments network, which is believed to have facilitated over $90 billion in military support for Russia.
- ▪The UK sanctioned 18 entities, including Huobi and a stablecoin issuer, for aiding Russia's financial activities.
- ▪This is the first instance of the UK applying banking-style sanctions to crypto exchanges.
- ▪The sanctions focus on the A7 payments network, which processed significant funds for military support.
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| Original publisher | CoinDesk |
| Canonical URL | https://www.coindesk.com/business/2026/05/26/uk-sanctions-huobi-and-ruble-stablecoin-issuer-in-crackdown-on-russia-crypto-networks |
| Publication time | Tue, 26 May 2026 17:33:35 +0000 |
| Retrieval time | 2026-05-26T17:37:50.291Z |
| Last seen | 2026-05-26T17:37:50.291Z |
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FinanceShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailUK sanctions Huobi and ruble stablecoin issuer in crackdown on Russia crypto networksBritain applied banking-style sanctions to crypto exchanges for the first time, requiring U.K. financial firms to freeze funds and trace transactions.By Francisco Rodrigues|Edited by Nikhilesh De May 26, 2026, 5:33 p.m. 2 min readMake preferred on What to know: The UK sanctioned 18 entities, including Huobi (HTX) and a stablecoin issuer, for helping Russia evade restrictions and finance its war in Ukraine.Britain applied banking-style sanctions to crypto exchanges for the first time, requiring U.K.
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Excerpt limited to ~120 words for fair-use compliance. The full article is at CoinDesk.
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