Cryptocurrency exchange HTX has restricted access to its platform for users located in or accessing services from Russia. The restriction applies to individuals and companies registered or conducting business in Russia, according to HTX's updated User Agreement.
Under the restrictions, the exchange reserves the right to limit access to products, restrict withdrawals, and close accounts of affected users. HTX has not yet announced when the restrictions took effect or whether existing Russian accounts are being suspended.
Russia joins several other countries already restricted by HTX, including the United States, the United Kingdom, the European Union, Singapore, Hong Kong, Iran, and Syria.
Similar Moves by Other Major Exchanges
Bitget and MEXC implemented comparable restrictions during October. Bitget added Russia, Belarus, and Kazakhstan to its banned jurisdictions list and advised users to withdraw assets by October 21. MEXC announced its exit from Russia and Belarus effective October 20, citing regulatory compliance requirements.
Regulatory Pressures and Compliance
The restrictions reflect increasing compliance mandates from various jurisdictions targeting international cryptocurrency exchanges. HTX previously faced regulatory scrutiny, having been included in the European Union's Russia-related sanctions in July over concerns about facilitating sanctions-evasion transactions.
Russia implemented new digital asset legislation on September 1, introducing licensing requirements for cryptocurrency trading services. The Central Bank of Russia subsequently approved Sberbank for cryptocurrency exchange activities under the new regulatory framework.
HTX's User Agreement notes that the list of restricted jurisdictions may be adjusted as regulations and company services evolve, and such changes may occur without notifying individual users.
