Britain's Financial Conduct Authority (FCA) has reached a court-enforced agreement with cryptocurrency exchange HTX, formerly known as Huobi, to halt unlawful promotions of cryptoasset services to UK customers. The deal, announced on Thursday, follows a lawsuit filed by the FCA in October 2025 against HTX, one of the world's largest crypto platforms. The FCA's action underscores the challenges regulators face in overseeing global crypto firms with complex corporate structures that often operate beyond traditional oversight.
The FCA said HTX, which Chinese billionaire Justin Sun acquired a controlling stake in 2022, began exiting the UK market after legal proceedings commenced. The settlement requires HTX to refrain from targeting, soliciting, or engaging UK consumers. Steve Smart, FCA director of enforcement and market oversight, emphasized that overseas crypto firms are not exempt from UK law, sending a clear message to other companies to comply or face consequences.
HTX defended its actions, stating it has been committed to adhering to evolving regulatory frameworks worldwide. The company asserted it takes local compliance requirements seriously and has taken steps to align with the UK's financial promotion regulations. HTX also reiterated its focus on providing safe, transparent, and compliant services to eligible users globally.