HTX exits UK in FCA settlement, barred from targeting Britons until 2031
HTX has settled the FCA's case over illegal crypto promotions, giving High Court undertakings until 2031 not to target UK consumers and closing UK accounts.
REGULATIONEXCHANGESNEWS
Lukas Brenner
10/29/20262 min read
Crypto exchange HTX, formerly Huobi, has settled the UK Financial Conduct Authority's lawsuit over unlawful crypto promotions and has left the British market, the regulator said on Oct. 29. Huobi Global S.A., the Panama-incorporated company behind HTX, gave undertakings to the High Court not to target, solicit or actively seek to engage UK consumers, according to the FCA and crypto.news.
Under the undertakings, which run until Oct. 21, 2031, the company must not knowingly communicate, or cause others to communicate, financial promotions that breach section 21 of the Financial Services and Markets Act 2000. The commitment covers HTX's website, apps and social media channels. The settlement was signed on Oct. 16 and the court order is dated Oct. 27. Its terms are confidential, and it is not an admission of liability or wrongdoing.
HTX is no longer active in the UK. British consumers cannot make deposits or open new accounts, and accounts linked to UK users remain restricted. Eligible customers with remaining funds can request a one-time 48-hour withdrawal window, subject to identity, sanctions and anti-fraud checks, after which the account is closed, crypto.news reported.
A year-long case
The FCA filed the proceedings on Oct. 21, 2025, and made them public in February 2026, alleging that HTX kept publishing illegal promotions after earlier warnings. The regulator had asked social media platforms to block HTX accounts for UK users and Apple and Google to remove its apps. A consent order in March paused the case to allow settlement talks.
"Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law," said Steve Smart, the FCA's executive director of enforcement and market oversight. The FCA said HTX had repeatedly failed to engage before legal action prompted its exit. HTX countered that its UK restrictions were in place well before the settlement.
The case lands as Britain prepares a full licensing regime for crypto firms. Applications opened on Sept. 30, firms that want to keep serving UK customers must apply by Feb. 28, 2027, and the new rules take effect on Oct. 25, 2027.
Source: FCA, crypto.news