HTX Exits UK Market Following FCA Settlement

HTX Exits UK Market Following FCA Settlement

HTX, previously known as Huobi, is ceasing operations in the UK after resolving a lawsuit with the Financial Conduct Authority (FCA). The FCA announced that the exchange has agreed not to unlawfully promote its crypto services to UK consumers, marking its first legal action against a crypto firm under UK financial promotion regulations.

As part of the settlement, HTX has halted all deposits and new registrations from UK users, who are now given a 48-hour window to withdraw their assets. Steve Smart, the FCA's executive director for enforcement and market oversight, emphasized that overseas crypto firms must adhere to UK laws, stating, "The message to other firms is clear: follow the rules or face the consequences."

HTX, which counts Tron founder Justin Sun as a global adviser, stated that it has taken steps to comply with UK regulations. Existing UK customers can no longer trade on the platform and must withdraw their funds before their accounts are closed.

The terms of the settlement remain confidential and do not imply any admission of wrongdoing by HTX. The FCA initiated legal proceedings against the exchange in October 2025, citing repeated non-compliance with engagement requests. Settlement discussions began in March and were prolonged into June.

In addition, HTX was previously sanctioned by the UK government for alleged ties to Russia's financial sector, with the EU also including Huobi Global in its sanctions list for actions that undermined their measures. HTX maintains that Huobi Global S.A. operates separately from its online exchange.