UK sanctions Huobi and ruble stablecoin issuer in crackdown on Russia crypto networks

Britain applied banking-style sanctions to crypto exchanges for the first time, requiring U.K. financial firms to freeze funds and trace transactions. 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. financial firms to freeze funds and trace transactions. Sanctions target Russia’s "illicit financial infrastructure," focusing on the A7 payments network, which officials say moved over $90B for military support.