HTX settles with FCA to halt UK crypto promotions

The Financial Conduct Authority announced a settlement with HTX, requiring the exchange to cease unlawfully promoting its services to consumers in the United Kingdom. Huobi Global S.A., the Panamanian entity behind HTX, agreed not to knowingly run illegal promotions through the exchange's website, apps, or social media. The court undertakings regarding this halt run until October 21, 2031. HTX pledged to stop crypto marketing in the UK until that date, with deposits and new account registrations already blocked in the region.

The FCA brought the case against HTX in October 2025 and announced it in February as its first enforcement action against a crypto firm over illegal marketing. Steve Smart, executive director of enforcement and market oversight at the FCA, stated that being based overseas does not put crypto firms beyond the reach of UK law. The settlement terms are confidential and do not constitute an admission of liability or wrongdoing by HTX. The FCA secured undertakings in the High Court that HTX will not knowingly promote crypto services unlawfully to UK consumers.

Existing UK accounts on HTX could no longer deposit or trade as of an October 16 notice outlining UK exit arrangements. Eligible UK users can request a one-time 48-hour window to withdraw remaining assets from HTX, subject to approval and compliance checks. HTX accounts will close after all assets have been withdrawn by eligible UK users. UK consumers can no longer make deposits on HTX, and new UK users cannot sign up.

The settlement in the UK follows separate sanctions against HTX in the United Kingdom and European Union. The UK sanctioned Huobi Global on May 26, imposing an asset freeze over suspected support for Russia's government. HTX said the company was separate from the exchange that was sanctioned by the UK authorities. The EU imposed a transaction ban on HTX that took effect on August 23. HTX counts Tron founder Justin Sun as an adviser. HTX is no longer active in the UK after settling the lawsuit brought by the Financial Conduct Authority over illegal crypto promotions.