FCA Secures Court Undertakings From HTX Operator Over UK Crypto Promotions

The UK Financial Conduct Authority (FCA) said on 29 October 2026 that it has settled its High Court case against the operator of the HTX crypto exchange, formerly Huobi, and secured court undertakings that HTX will not knowingly promote cryptoasset services unlawfully to UK consumers. Under a consent order dated 27 October 2026, Huobi Global S.A. gives those undertakings until 21 October 2031.

The FCA said HTX is no longer active in the UK: consumers can no longer make deposits, new UK users cannot sign up, and HTX will not target, solicit or actively seek to engage UK consumers. The terms of the settlement are confidential and do not constitute an admission of liability or wrongdoing.

What the Court Order Says

The order is a Tomlin order made by Deputy Master Holden in the Financial Services and Regulatory sub-list of the Business and Property Courts (claim FS-2025-000015). It records that the FCA and Huobi Global S.A., a company incorporated in Panama and the first defendant, agreed the terms of a confidential settlement agreement dated 16 October 2026. All further proceedings are stayed on those terms except for enforcement, both parties may apply to the court to enforce the settlement without bringing a new claim, and there is no order as to costs.

In the schedule, Huobi Global undertakes that it will not knowingly, directly or indirectly, communicate or cause to be communicated any financial promotion in contravention of section 21 of the Financial Services and Markets Act 2000. The undertaking expressly covers the htx.com website or any similar website promulgated by the exchange's operator, any software application it makes available, and social media platforms including X, Facebook, Instagram, Telegram, TikTok, YouTube, Discord, Medium and LinkedIn.

The claim also names four categories of persons unknown, including those who control the HTX website, apps and social media accounts and any person who becomes an owner or controller of the exchange on or before 31 October 2028. The undertakings in the order are given by Huobi Global.

How the Case Developed

The FCA started proceedings on 21 October 2025 and announced them on 10 February 2026, describing the case as the first time it had taken enforcement action against a crypto firm for illegally marketing to UK consumers. It said then that HTX had continued to publish financial promotions on its website and on TikTok, X, Facebook, Instagram and YouTube despite earlier warnings, that the exchange had an opaque structure hiding its owners and website operators, and that it had ignored repeated attempts at engagement. The FCA asked social media companies to block HTX's accounts for UK users and asked for its apps to be removed from the UK Google Play and Apple stores. HTX has been on the FCA Warning List since October 2023.

Since October 2023, every cryptoasset firm marketing to UK consumers, including firms based overseas, must comply with the financial promotions regime. Steve Smart, executive director of enforcement and market oversight at the FCA, said: “being based overseas does not put them beyond the reach of UK law.”

What It Means for UK Users and Other Firms

HTX's own notice on UK availability, dated 16 October 2026, says it does not provide services to UK residents, that registration and identity checks cannot be completed from a UK IP address and that accounts identified as UK accounts cannot be used to deposit, trade or transact. Eligible individual users who still hold assets can ask HTX customer support for a one-time 48-hour window to withdraw everything themselves, subject to the conditions of the applicable Personal Remittances General Licence and HTX's identity, sanctions, anti-money laundering and security checks. HTX says it will close each account after full withdrawal and that reporting obligations to HM Treasury may apply.

The FCA notes that cryptoassets remain largely unregulated in the UK, apart from anti-money laundering rules and the financial promotions regime, until the new cryptoasset regime begins in October 2027. Overseas exchanges that market to UK users without FCA approval of their promotions face the same route the FCA used here: Warning List entries, takedown requests and court action. The FCA tells consumers to check a firm's permissions with the FCA Firm Checker.