HTX Entangled in Settlement Talks with UK Regulator Over Crypto Promotions

The UK's financial regulator, the Financial Conduct Authority (FCA), is locked in settlement talks with HTX, a cryptocurrency exchange under UK and European Union sanctions. The FCA sued HTX last October over allegations that the group was illegally promoting crypto services in the UK.

HTX, formerly known as Huobi, is one of the world's largest crypto platforms. Chinese billionaire Justin Sun bought a controlling stake in 2022. The lawsuit highlights the challenges of policing global crypto companies with opaque corporate structures and ability to reach customers via the internet.

London's High Court has halted proceedings to give both sides two months until late August to settle their dispute. HTX declined to comment on the status of talks, stating that it remains dedicated to upholding high standards of compliance, transparency, and user protection.