XK

Recent UK crypto sanctions seem to be a bit of an overreach. Wonder if it will ever get to the point where it’s ignored because HTX address tainting onchain has been catastrophic. In the past sanctions were done and those crypto businesses typically had a high % of illicit activity (Huione, Blender, Hydra, etc). While Justin Sun may be a controversial name HTX has a decent number of Asia retail users. Basically now I’ve had to ignore the sanctions category when tracing cases by exposure since “risk” itself has become meaningless. Also compliance tools are a bit flawed and do not differentiate pre & post sanctions activity well. Meanwhile I have a legit $1.25B laundering case by an illicit actor the UK completely failed to detect. Given UK incompetence historically in crypto cases it’s not surprising to see them sanction HTX and miss the actual violations…..

Recent UK crypto sanctions seem to be a bit of an overreach. Wonder if it will ever get to the point where it’s ignored because HTX address tainting onchain has been catastrophic. In the past sanctions were done and those crypto businesses typically had a high % of illicit activity (Huione, Blender, Hydra, etc). While Justin Sun may be a controversial name HTX has a decent number of Asia retail users. Basically now I’ve had to ignore the sanctions category when tracing cases by exposure since “risk” itself has become meaningless. Also compliance tools are a bit flawed and do not differentiate pre & post sanctions activity well. Meanwhile I have a legit $1.25B laundering case by an illicit actor the UK completely failed to detect. Given UK incompetence historically in crypto cases it’s not surprising to see them sanction HTX and miss the actual violations…..