HTX Restricts Russia as Bitget and MEXC Exit, While Binance Cuts Ties

Cryptocurrency exchange HTX has added Russia to its list of restricted jurisdictions, giving the crypto exchange the power to limit services, restrict withdrawals, and close affected accounts. 

The move follows similar decisions by Bitget and MEXC, as UK and EU sanctions and Binance’s reported suspension of ties add pressure on HTX’s international operations.

HTX Adds Russia to Its Restricted Countries List

Under its updated User Agreement, HTX’s restrictions apply to individuals living in or accessing the platform from Russia, as well as companies registered or primarily operating there.

The exchange can restrict access to its products, limit withdrawals, or close affected accounts. However, HTX has not disclosed when the restrictions took effect or confirmed whether it has started suspending Russian accounts.

Meanwhile, Russia now joins other restricted jurisdictions, including the United States, the United Kingdom, the European Union, Singapore, Iran, and Syria. 

The exchange also says its restricted country list can change as regulations and services evolve, and users are responsible for checking updated terms.

UK and EU Sanctions Put HTX Under More Pressure

The policy change follows sanctions targeting HTX and its parent entity, Huobi Global SA. The UK government sanctioned Huobi Global SA, alleging that it was part of a “shadow financial system” that channeled more than $1.5 billion.

The European Union later included HTX in its Russia-related sanctions package, prohibiting EU entities from conducting business or transactions with the network. The measures targeted crypto platforms suspected of helping facilitate transactions linked to sanctions evasion.

Russia Faces More Restrictions on Crypto Access

Compliance pressure has also affected HTX’s links with other crypto platforms. On 25th August, Binance announced that it suspended transaction matching and network ties with HTX and 10 other crypto service providers. The move reduced HTX’s access to cross-exchange institutional liquidity.

Meanwhile, Bitget added Russia and Belarus to its prohibited jurisdictions list and advised affected users to withdraw assets by October 21. 

MEXC also announced plans to discontinue services for users in Russia and Belarus from October 20.

The combined moves show growing pressure on international exchanges serving Russian users, although the supplied reports do not establish that all platforms are coordinating a wider market exit.