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UK sanctions Huobi and ruble stablecoin issuer in crackdown on Russia crypto networks
Key takeaways
- Foreign, Commonwealth & Development Office targets 18 entities and individuals linked to what officials described as Russia’s “illicit financial infrastructure used to move funds, procure goods, and sustain its war.”
- Among them are Huobi Global S.A., operator of the HTX exchange, Rapira Group LLC, Aifory LLC, Arvix LLC and Bitpapa IC FZC LLC.
- HTX is one of the world’s largest crypto exchanges, with roughly $3.3 trillion in trading volume last year, according to a blog post from blockchain analytics firm Elliptic.
The sanctions package from the U.K. Foreign, Commonwealth & Development Office targets 18 entities and individuals linked to what officials described as Russia’s “illicit financial infrastructure used to move funds, procure goods, and sustain its war.”
Among them are Huobi Global S.A., operator of the HTX exchange, Rapira Group LLC, Aifory LLC, Arvix LLC and Bitpapa IC FZC LLC.
HTX is one of the world’s largest crypto exchanges, with roughly $3.3 trillion in trading volume last year, according to a blog post from blockchain analytics firm Elliptic.
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