UK FCA, HTX in Settlement Talks Over Crypto Promotion Lawsuit

The UK's Financial Conduct Authority (FCA) is in settlement talks with cryptocurrency exchange HTX, formerly known as Huobi, regarding a lawsuit filed last year over alleged illegal financial promotions.

According to a report by Wu Blockchain, citing media outlet CNA, both parties are working toward a voluntary resolution. The FCA initiated legal action against HTX in October 2024, accusing the exchange of violating the UK's financial promotion rules introduced in 2023.

The rules require crypto firms to register with the FCA and ensure their marketing communications are clear, fair, and not misleading. The FCA alleged that HTX promoted its services to UK consumers without proper authorization, breaching these rules.