Crypto Exchange HTX Exits the UK Following FCA Settlement

FCA Action Forces HTX to Cease Operations in the U.K.

Cryptocurrency exchange HTX, formerly known as Huobi, has withdrawn from the United Kingdom market after reaching a legal settlement with the Financial Conduct Authority (FCA). The resolution stems from allegations that the digital asset platform breached strict domestic rules governing financial promotions. According to an announcement made by the regulator on Thursday, the FCA successfully obtained High Court rulings designed to bar HTX from knowingly and illegally marketing cryptoasset services to consumers located in the U.K.

The regulatory enforcement effectively ends the exchange’s commercial reach within the country. Detailing the platform’s current operating status, the watchdog explicitly stated the operational curbs placed on the firm. “$HTX is no longer active in the U.K.,” the FCA said.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.” British authorities further instructed existing account holders to consult the guidance published on HTX’s website, which outlines the official process for withdrawing their remaining assets.

History of Advertising Breaches and Court Proceedings

The regulatory clash originated from repeated compliance failures regarding British marketing legislation. The FCA initially flagged HTX’s promotional activities when it issued a formal warning against the trading platform in October 2023. Despite that intervention, the crypto exchange persisted in advertising its products and services to British customers without securing the necessary regulatory clearance.

Following this continued defiance, the FCA escalated the matter to the legal system by suing the exchange for persistently and unlawfully promoting itself in the U.K. in October 2025. According to the financial watchdog, the Singapore-based exchange—which was acquired by Tron founder Justin Sun in May 2023—not only engaged in unauthorized promotional campaigns but also failed to respond to inquiries issued by regulatory investigators, leading up to the High Court intervention.

Why This Matters

The exit of HTX underscores the robust approach the FCA is taking to enforce its strict financial promotion regime for cryptoassets, which aims to protect retail investors from unregulated marketing. Global platforms that fail to engage with regulatory inquiries or align their marketing materials with British legal standards face severe litigation, court injunctions, and total market exclusion. For crypto exchanges worldwide, the case serves as a clear indicator that the U.K. will deploy high-level legal enforcement to restrict non-compliant overseas firms from accessing its consumer base.

Frequently Asked Questions

Why did HTX withdraw from the U.K.?

HTX withdrew from the U.K. after settling an enforcement action led by the Financial Conduct Authority (FCA). The regulator secured High Court rulings against the firm after it repeatedly breached financial advertising regulations and failed to answer official regulatory inquiries.

Can existing U.K. users still trade or deposit funds on HTX?

No. Under the terms confirmed by the FCA, deposits have been stopped, new user registrations are blocked, and HTX is forbidden from soliciting or targeting U.K. customers. Existing account holders have been directed to read the instructions on HTX’s official website regarding how to withdraw their remaining funds.

Who owns HTX and where is it based?

HTX, which previously operated under the name Huobi, is a Singapore-based cryptocurrency exchange that was acquired by Justin Sun in May 2023.