✓ Verified by 4+ outlets
HTX settles the FCA's first crypto-marketing case and stops serving UK customers
Summary
Crypto exchange HTX, formerly Huobi, has settled the UK Financial Conduct Authority's High Court case over illegal crypto promotions and is no longer active in the UK, the regulator said Thursday, according to Decrypt and Cointelegraph.
Huobi Global S.A. undertook not to knowingly communicate unlawful financial promotions to UK consumers, including through HTX's website, apps and social media, a promise Cointelegraph said runs until Oct. 21, 2031.
UK customers can no longer make deposits and new UK users cannot sign up, both outlets reported, and Decrypt said HTX's website gives existing UK customers 48 hours to withdraw assets before their accounts are closed.
The FCA brought the case in October 2025, its first enforcement action against a crypto firm over marketing; the settlement terms are confidential and HTX did not admit liability or wrongdoing, the outlets said.
Updates
- Update, : Update (Oct. 29): CoinDesk reported that the former Huobi exchange has stopped accepting deposits from British customers and agreed not to target them with crypto promotions.
Key facts
- "Being based overseas does not put them beyond the reach of UK law," said Steve Smart, the FCA's executive director of enforcement and market oversight, per Decrypt.
- The settlement agreement was dated Oct. 16 and recorded in a Tuesday court order, Cointelegraph reported.
- HTX names Tron founder Justin Sun as a global adviser, Decrypt noted.
- The UK sanctioned Huobi Global on May 26 with an asset freeze over suspected support for Russia's government, and the EU imposed a transaction ban on HTX on July 23 that took effect Aug. 23, Cointelegraph reported.
- HTX has said Huobi Global S.A. is distinct from the online HTX exchange, according to Decrypt.