HTX and FCA in Settlement Talks Over Unauthorized Crypto Promotions

The Financial Conduct Authority (FCA) is in settlement talks with HTX over claims that the exchange illegally promoted crypto services to UK consumers. The High Court has paused proceedings until late August to allow the two sides to reach a deal.

The FCA issued proceedings against HTX last October, alleging that it breached section 21 of the Financial Services and Markets Act by promoting unauthorized financial promotions. The regulator claimed that UK users could still trade on the exchange despite being barred from derivatives.

HTX has not commented on the talks, but a spokesperson said the exchange 'remains dedicated to upholding high standards of compliance, transparency, and user protection.'