FCA and HTX Engage in Settlement Talks Over Crypto Promotion Allegations

Britain's Financial Conduct Authority (FCA) is engaged in settlement talks with cryptocurrency exchange HTX, formerly known as Huobi Global, over allegations of promoting crypto services in the UK without proper authorization.

The FCA filed a lawsuit against HTX last October, accusing the company of breaching UK financial promotion rules that have applied to cryptoassets since 2023. HTX had ignored repeated attempts to engage with the regulator and had an 'opaque operational structure', according to the FCA.

The London High Court has halted proceedings to give both sides two months until late August to settle their dispute, court documents show. HTX declined to comment on the status of talks or timelines, but a spokesperson stated that the company remains dedicated to upholding high standards of compliance and transparency.