Cryptocurrency exchange $HTX, formerly known as Huobi, withdrew from the U.K. after settling with the Financial Conduct Authority (FCA) over alleged breaches of the country’s financial advertising rules.
The FCA secured High Court rulings to prevent $HTX from knowingly promoting crypto services illegally to U.K. consumers, according to an announcement on Thursday.
“$HTX is no longer active in the U.K.,” the FCA said. “Consumers can no longer make deposits, and new U.K. users cannot sign up to the platform. $HTX will not target, solicit or actively seek to engage U.K. consumers.” The regulator told users to read information published on $HTX’s website, including how to withdraw their assets.
$HTX continued advertising its crypto services to consumers in the U.K. despite an FCA warning in October 2023. The FCA sued the exchange for continuing to illegally promote itself in the U.K. in October 2025. The regulator said the Singapore-based exchange, which Justin Sun acquired in May 2023, also failed to answer its inquiries.
“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. “Our action means $HTX is leaving the UK and can no longer target UK consumers.”
The agreement covers promotions through $HTX's website, mobile applications and social media. The FCA has directed existing UK customers to the exchange's website for instructions on withdrawing any remaining assets.
The settlement terms are confidential and do not constitute an admission of wrongdoing by $HTX or Huobi Global S.A., the FCA said.
The case comes as Britain prepares to bring more crypto activities under financial regulation in October 2027. For now, the FCA's oversight of the sector focuses largely on anti-money laundering and financial promotions.
