HTX has added Russia to its list of restricted jurisdictions, a change that allows the cryptocurrency exchange to limit services for Russian users and may restrict account access and withdrawals for affected individuals and businesses. According to Russian business outlet RBC, the restrictions cover individuals residing in or located in Russia, alongside companies registered or primarily operating in the country.

The move follows similar decisions by Bitget and MEXC earlier in October, making HTX the third major exchange reported this month to curtail services for Russian users.

HTX Agreement Permits Account Closures and Withdrawal Suspensions

Under HTX's user agreement, the exchange may restrict access, suspend withdrawals, or close accounts belonging to affected users. The agreement also allows HTX to change its restricted jurisdictions list without notifying customers individually, meaning users may need to monitor the platform directly to confirm their current service status.

That list includes the United States, the United Kingdom, the European Union, Singapore, Hong Kong, Iran, Syria, and a number of other countries and territories. The restrictions apply to both individuals and businesses that meet the agreement's location or registration criteria.

HTX maintains a separate set of restrictions on derivatives trading, a category of financial instruments linked to asset price movements. Those limits cover users from Taiwan, Israel, Iraq, Bangladesh, Bolivia, Ecuador, Kyrgyzstan, and New Zealand.

Founded in 2013 as Huobi, the exchange adopted the HTX name in 2023. Its services span spot cryptocurrency trading, futures, other derivatives, blockchain-related services, investments, and cryptocurrency storage.

Bitget and MEXC Restricted Russian Access Earlier in October

HTX's decision follows restrictions announced by Bitget and MEXC earlier in October, with both exchanges citing prohibited jurisdictions and regulatory compliance concerns. Bitget added Russia, Belarus, and Kazakhstan to its prohibited jurisdictions list and advised affected clients to withdraw their funds by October 21.

MEXC announced its withdrawal from the Russian and Belarusian markets on October 20, citing improvements to its regulatory compliance system as the reason for its decision.

Analysts Cite Regulatory and Sanctions Risks

Experts attributed Bitget's and MEXC's departures to increased regulatory and sanctions risks. Nikita Zuborev, senior analyst at Bestchange.ru, said other international exchanges could follow, although no signs indicate coordinated action among the exchanges.

RBC did not specify when HTX's restrictions took effect. The exchange's agreement states that restricted jurisdictions may change based on its policies and services in each market, and it directs users to check the latest information on its platform or within the agreement.