Crypto exchange HTX is withdrawing from the UK after reaching a settlement with the Financial Conduct Authority over alleged unlawful promotions, ending the regulator’s first enforcement case against a crypto firm under the country’s financial promotion rules.
UK access ends under court undertakings
The FCA said it settled its High Court case after obtaining undertakings that HTX will not knowingly target or solicit UK consumers with crypto services promoted in breach of British law. The restrictions cover the exchange’s website, applications and social-media channels.
HTX, formerly known as Huobi, has stopped accepting deposits from UK customers and is no longer allowing new users in the country to register. Existing UK customers have been blocked from trading and have 48 hours to withdraw their assets before their accounts are closed, according to a notice on the exchange’s website.
The company names Tron founder Justin Sun as a global adviser. Huobi Global S.A., a Panama-registered company identified as the first defendant in the case, provided the undertaking relating to unlawful financial promotions.
“Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law,” Steve Smart, the FCA’s executive director of enforcement and market oversight, said. He added that firms must follow the rules or face consequences.
First FCA crypto promotion case
The regulator began proceedings against HTX in October 2025, saying the exchange had repeatedly failed to engage with it. It was the FCA’s first enforcement action against a crypto company under the UK’s financial promotion regime.
The two sides began settlement discussions in March, with the talks extended in June, according to court orders reported by Reuters. The FCA said the settlement terms are confidential and that the agreement does not represent an admission of liability or wrongdoing.
HTX said it had proactively introduced measures to comply with UK financial promotion regulations, according to reporting by Decrypt. The exchange’s departure illustrates how UK rules can affect overseas-based crypto platforms seeking access to British users. A financial promotion is generally a communication inviting or encouraging people to engage with a financial product or service; UK rules govern such communications to consumers in the country.
Sanctions add to scrutiny around Huobi name
The FCA case comes amid separate regulatory action involving Huobi Global S.A. In May, the UK sanctioned the company over alleged support for Russia’s financial sector. The government notice listed HTX as another name for the designated entity.
Two months later, the European Union included Huobi Global in its 21st package of Russia sanctions. The EU accused the company of significantly frustrating the bloc’s measures and prohibited transactions with the exchange, although it did not impose a full asset freeze.
HTX has said Huobi Global S.A. is distinct from the online HTX exchange.
Market picture
Moneyiar market data recorded at the stated times shows HTX’s token at $0.0000016324, up 0.10% over 24 hours but down 1.25% over seven days, as of October 25, 2026, at 22:38 +03:30. Sun [New] (SUN) was $0.0163252667, up 0.06% over 24 hours and down 1.39% over seven days, at the same time.
Chainlink (LINK) stood at $11.4919002167, down 0.49% in 24 hours and 3.57% over seven days, as of October 25, 2026, at 22:39 +03:30. JUST (JST) was $0.1406984321, down 0.14% over 24 hours but up 3.79% over seven days, as of October 25, 2026, at 22:38 +03:30. These figures are Moneyiar data and are separate from the FCA settlement.
