The UK’s Financial Conduct Authority (FCA) has taken legal action against crypto exchange HTX, formerly known as Huobi, for allegedly engaging in the unlawful promotion of digital asset services to British consumers. This move is part of the FCA’s broader efforts to tighten oversight on global crypto operators as the UK refines its regulations surrounding digital assets.
According to a report by Bloomberg, the FCA filed civil proceedings in London’s High Court against HTX for violating Britain’s financial promotions regime. The regulator highlighted that HTX was not authorized to operate in the country and was listed on its public warning list. Founded in 2013, HTX counts Chinese entrepreneur Justin Sun as a global adviser, known for his involvement in various crypto ventures, including the Trump family’s crypto initiative, World Liberty Financial.
In response to the growing popularity of cryptocurrencies, the FCA introduced stricter promotion rules in 2023 to ensure that marketing related to crypto products is transparent, fair, and not misleading. Companies offering or promoting crypto products to UK consumers are now required to register under anti-money laundering regulations and obtain relevant authorizations.
The lawsuit filed by the FCA also targets several entities associated with HTX, including Huobi Global and four unidentified individuals described as “persons unknown,” covering the exchange’s owners, operators, and heads of promotions. This legal action underscores the FCA’s commitment to using the courts to enforce compliance, sending a clear message to offshore crypto firms that the UK market can no longer be treated as a grey area.
As the case progresses, it will be essential to monitor any updates and developments, especially in the context of the FCA’s efforts to regulate the crypto market in the UK more effectively.
This article was written by Jared Kirui at Finance Magnates.
Sources:
1. Coindesk: [https://www.coindesk.com/policy/2025/10/22/uk-s-fca-sues-crypto-exchange-htx-for-unlawful-promotion-of-digital-assets]
2. Finance Magnates: [https://www.financemagnates.com/cryptocurrency/regulation/fca-sues-justin-sun-linked-crypto-exchange-htx-for-unlawful-promotions]
3. Bloomberg: [https://twitter.com/business/status/1451470514891622401]
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