HTX Denies UK Sanctions Claims, Says It Declined A7A5 Stablecoin Listing

HTX, a crypto exchange that operates worldwide, has publicly denied allegations from the UK government that it helped Russia move money for its war in Ukraine. The British Foreign Office said there was “reasonable grounds” to suspect HTX assisted a Russian‑linked stablecoin called A7A5. HTX’s spokesperson replied that the company had actually rejected a request to list the token after completing its usual due‑diligence checks. The stablecoin’s issuer, A7 LLC, is already on many Western sanctions lists. The exchange explained that it follows strict internal procedures to evaluate any new token. When A7A5 approached HTX, the team found that the coin’s background raised red flags. Consequently, they turned down the application. A7A5’s chief executive, Oleg Ogienko, said other major exchanges had also declined to list the token for fear of secondary sanctions. He noted that A7A5 operates on a decentralized finance (DeFi) model, so it does not need a central exchange to trade.Ogienko also claimed that A7A5 complies with the laws of Kyrgyzstan and Russia, as well as the global standards set by the Financial Action Task Force. He insisted that the project does not break any laws, and he is still willing to cooperate with exchanges if they want more trading volume. However, HTX remains firm that it will not list the stablecoin. The UK’s accusations come after the government highlighted a “strategic” sector that Russia is using for its finances. The Foreign Office did not provide specific evidence linking HTX to A7A5, only that it suspected a connection. The exchange’s denial may help protect its reputation and keep its users’ trust. This situation shows how crypto firms must balance business growth with regulatory scrutiny. Exchanges that fail to conduct proper checks risk being caught up in geopolitical disputes and facing sanctions themselves.