CoinDesk
HTX, the exchange formerly known as Huobi, has withdrawn from the UK after settling with the Financial Conduct Authority over alleged breaches of financial-promotion rules. British customers can no longer deposit funds, and new users cannot register. HTX also agreed not to target, solicit or actively seek UK consumers through its website, apps or social media.
Why it matters
The FCA secured High Court rulings to prevent HTX from knowingly promoting crypto services illegally to UK consumers. The regulator said HTX continued advertising after an FCA warning in October 2023 and sued the exchange in October 2025. The FCA also said HTX failed to answer its inquiries. The settlement terms are confidential, and HTX and Huobi Global S.A. did not admit wrongdoing.
FCA enforcement director Steve Smart said overseas firms are not beyond the reach of UK law. The case reinforces that geographic distance does not exempt crypto businesses from local financial-promotion rules when they seek to reach consumers there.
Market impact
The FCA directed existing UK customers to HTX’s website for instructions on withdrawing any remaining assets. The exchange’s withdrawal removes its UK-facing services, while the regulator’s action covers promotions across its website, mobile apps and social media.
The case comes as Britain prepares to bring more crypto activities under financial regulation in October 2027. For now, the FCA’s crypto oversight focuses largely on anti-money-laundering requirements and financial promotions.
Frequently asked questions
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What services can UK customers no longer use on HTX?
UK customers can no longer deposit funds, and new UK users cannot register. Existing customers should consult HTX’s website for instructions on withdrawing remaining assets.
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Which HTX channels are covered by the UK settlement?
The agreement covers promotions through HTX’s website, mobile applications and social media. HTX agreed not to target, solicit or actively seek UK consumers.
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Did HTX admit wrongdoing in its FCA settlement?
No. The FCA said the settlement terms are confidential and that neither HTX nor Huobi Global S.A. admitted wrongdoing.
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What enforcement steps did the FCA take against HTX?
The FCA secured High Court rulings to prevent HTX from knowingly promoting crypto services illegally to UK consumers. It said HTX continued advertising after a warning in October 2023 and sued the exchange in October 2025.
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How does the case fit into the UK's planned crypto regulation?
Britain is preparing to bring more crypto activities under financial regulation in October 2027. For now, FCA oversight focuses largely on anti-money laundering and financial promotions.
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