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Exchanges

HTX (formerly Huobi Global)

Huobi no longer exists under that name: since September 2023 the exchange has been called HTX and sits in Justin Sun's orbit. In 2026 it was sanctioned in the UK (from 26 May) and the EU, which has banned all transactions with the platform since 23 August. It has no MiCA licence.

Riccardo CuratoloBy Riccardo Curatolo 4 min read How we work
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International sanctions. On 26 May 2026 the United Kingdom added Huobi Global S.A. to its Russia sanctions list (ID RUS3619), with an asset freeze; on 29 May OFSI, HM Treasury's Office of Financial Sanctions Implementation, specified that the measure also covers the HTX exchange. In the European Union, Regulation (EU) 2026/1848 of 23 July 2026 added HTX to Annex XLV of Regulation (EU) No 833/2014, the list of third-country companies that, according to the Council, significantly undermine the effectiveness of the sanctions: since 23 August 2026 any transaction with the platform has been prohibited. EU citizens and residents with funds on HTX can ask the competent national authority for authorisation to withdraw them or close their account, with a transfer to an EU financial or credit institution: the request must be submitted by 23 November 2026. Sources: Regulation (EU) 2026/1848, UK government notice, OFSI FAQ. Updated 26 October 2026.

What HTX (formerly Huobi Global) is

Huobi, founded in China in 2013 by Leon Li and financed in its early days by ZhenFund and Sequoia, was for years one of the largest Asian exchanges, with its base moved to Singapore and then to the Seychelles after the Chinese ban. In October 2022 Li sold his entire majority stake to About Capital, a Hong Kong vehicle attributable to the influence of Justin Sun (founder of TRON), who has since effectively led the platform in the formal role of advisor. On 13 September 2023, for its tenth anniversary, the exchange renamed itself HTX ("H" for Huobi, "T" for TRON, "X" for exchange). It remains among the largest global exchanges by volume (Verified: September 2026), but its recent trajectory has been marked by hacks, internal controversies, its complete exit from the European market and, in 2026, UK and EU sanctions in the framework of the measures against Russia. (Verified: October 2026)

Regulation and licences

  • MiCA: NO. HTX does not appear in the ESMA register of authorised CASPs and has never announced a successful application. Ahead of the 01/07/2026 deadline it took the opposite path to its authorised competitors: it added all 27 EU member states to the jurisdictions excluded from every service in its user agreement. HTX cannot be used legally and no longer serves EU clients. (Verified: September 2026)
  • EU sanctions: with Council Regulation (EU) 2026/1848 of 23 July 2026 (the 21st package of sanctions against Russia), "HTX (Huobi Global SA)" was added to Annex XLV of Regulation (EU) No 833/2014. The list covers third-country companies that provide crypto-asset or payment services and that, according to the Council, significantly undermine the effectiveness of the sanctions. Since 23 August 2026 any transaction between the platform and persons or companies located in the EU has been prohibited. The regulation allows the competent national authorities to authorise only the operations strictly necessary to withdraw funds or close the accounts of EU citizens and residents. Two conditions apply: the request must arrive within three months of the date of application, i.e. by 23 November 2026, and the funds must go to an EU financial or credit institution. (Verified: October 2026)
  • UK sanctions: on 26 May 2026 the British government added Huobi Global S.A., a company registered in Panama, to its Russia sanctions list. The list also identifies it under the names "HTX (formerly Huobi)" and "HTX Exchange". The measures include an asset freeze and a ban on UK banks processing payments to and from the company. According to the British government there are "reasonable grounds to suspect" that it provided financial services to A7 LLC and Garantex Europe, companies operating in a sector of strategic significance to the Russian government. On 29 May 2026 OFSI, HM Treasury's Office of Financial Sanctions Implementation, clarified that the measure also covers the HTX exchange, because it is owned by Huobi Global. HTX contested the designation, arguing that the sanctioned company is distinct from the exchange. (Verified: October 2026)
  • The "global network of licences" in 12 countries claimed in the past belongs to the pre-2022 Huobi era and is no longer representative of the current setup. (Verified: September 2026)

Security

Two known incidents in the HTX era, both with a declared outcome: in September 2023 a hack of around 8 million dollars in ETH (users reimbursed; the funds were returned by the hacker in exchange for a "white hat" bounty); in November 2023 a combined attack on HTX and the Heco Chain bridge worth around 115 million dollars in total, with the platform stating that it would cover the losses. In February 2025 Justin Sun spoke publicly of a 30 million dollar "hole" discovered at the time of the acquisition, in the context of disputes with the previous ownership. (Verified: September 2026)

Headquarters and contacts

  • Huobi Global S.A., the company named in the sanctions lists: registered in Panama (Folio No. 155737650), with the address "Via Espana, Delta Bank Building, 6th Floor, Panama City", according to the UK government notice of 26 May 2026.
  • Official website: no link, because the platform is subject to sanctions in the United Kingdom and the European Union.

Alternatives (for EU users)

  • OKX — a global exchange active in the European market
  • Bybit — a regulated European entity in Vienna
  • Kraken — full MiCA authorisation via Ireland

FAQ

Are Huobi and HTX the same thing? Yes: Huobi Global renamed itself HTX on 13 September 2023, after the 2022 change of ownership from the Leon Li era to the Justin Sun/About Capital orbit. (Verified: September 2026)

Can I use HTX from the EU? No. HTX has no MiCA licence and has excluded all EU countries from its services. Since 23 August 2026, moreover, EU sanctions have prohibited any transaction with the platform (Regulation (EU) 2026/1848). Anyone still holding funds on HTX can ask the competent national authority for authorisation to withdraw them or close the account, with a transfer to an EU financial institution: the request must be submitted by 23 November 2026. (Verified: October 2026)

Who is in charge at HTX today? Formally Justin Sun is an "advisor", but he has been the platform's leading figure since the 2022 acquisition; founder Leon Li no longer holds any role. (Verified: September 2026)

Verified sources

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