Crypto exchange HTX barred from promoting services in UK
Signage is seen for the FCA (Financial Conduct Authority), the UK’s financial regulatory body, at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville
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LONDON, Oct 29 : Britain’s financial regulator has secured a court-backed agreement with cryptocurrency exchange HTX that will bar it from knowingly promoting cryptoasset services unlawfully to UK customers, the watchdog said on Thursday.
The Financial Conduct Authority had in October 2025 sued HTX — formerly known as Huobi and one of the world’s largest crypto platforms – over alleged illegal UK promotions.
Regulators and authorities around the world have for years warned that nascent crypto markets – which are generally less regulated than mainstream financial markets – present risks to investors.
The FCA’s first High Court battle against an overseas crypto firm over marketing to UK consumers highlights how some authorities are trying to police global crypto companies that can have opaque corporate structures and ignore them – while reaching customers via the Internet.
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FCA SAYS IT SENDS MESSAGE TO CRYPTO FIRMS
The FCA said HTX, in which Chinese billionaire Justin Sun bought a controlling stake in 2022, took steps to exit Britain after legal proceedings were started and, following lengthy settlement talks, a deal was struck under which HTX will not target, solicit or actively seek to engage UK consumers.
“Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law,” said Steve Smart, FCA director of enforcement and market oversight.
“Our action means HTX is leaving the UK and can no longer target UK consumers. The message to other firms is clear: follow the rules or face the consequences.”
HTX said it had remained fully committed to complying with “evolving regulatory frameworks” globally.
“We take local compliance requirements seriously and have proactively implemented measures to align with the UK’s financial promotion regulations,” the company said in a statement.
“HTX continues to focus on providing safe, transparent and compliant services to eligible users worldwide.”
Source: Reuters
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