HTX Exits UK Market After Settling FCA Illegal Promotions Case, Restricting User Access Until 2031

Crypto exchange HTX has agreed to exit the United Kingdom after settling a lawsuit brought by the Financial Conduct Authority over unlawful crypto promotions, with court undertakings that run until October 21, 2031. The settlement, reached with Huobi Global, the entity behind HTX, was the FCA's first enforcement action against a crypto firm under UK financial promotion rules introduced in October 2023. The terms are confidential, and the settlement does not constitute an admission of wrongdoing.

As part of the agreement, HTX has already halted UK deposits, new account registrations, and trading for UK customers. Existing UK users cannot trade and must request approval for a one-time 48-hour withdrawal window, which remains subject to sanctions controls. The sanctions dimension adds a significant complication: the UK sanctioned Huobi Global in May 2026, meaning that withdrawal window is not automatically available to all affected customers.

HTX is associated with Justin Sun and was formerly known as Huobi. The FCA's original case, filed in the High Court, alleged that HTX illegally targeted UK consumers by operating an English-language platform that accepted British pounds and UK-issued identification, and the regulator had previously warned the exchange before launching proceedings.