HTX exits UK after FCA lawsuit over crypto promotions
6.7 Regulation HTX settled with the FCA, agreeing to stop promoting crypto in the UK and exiting the market. The FCA's action signals stricter enforcement for overseas crypto firms.
Crypto exchange HTX, formerly known as Huobi, has reached a court-backed settlement with the UK's Financial Conduct Authority (FCA) after facing a lawsuit over alleged illegal promotion of crypto services to UK consumers. This marks the FCA's first legal action against an overseas crypto firm under new financial promotion rules. As part of the settlement, HTX agreed not to target, solicit, or actively engage UK customers. The exchange has stopped accepting deposits and new sign-ups from the UK, and existing users have been given a limited period to withdraw their assets. The FCA emphasized that overseas firms are still subject to UK law, sending a strong message to the crypto industry about compliance. This case underscores the regulator's commitment to enforcing advertising rules and policing global crypto platforms, with HTX now no longer active in the UK market.
