- FCA secured High Court undertakings restricting HTX’s unlawful crypto promotions until October 2031.
- HTX agreed to stop targeting UK consumers and withdrew from the UK market.
- HTX remains on the FCA Warning List, leaving customers without FOS or FSCS protection.
Britain’s Financial Conduct Authority (FCA) secured High Court undertakings against HTX, formerly Huobi, as the exchange withdrew from the UK market. The FCA confirmed the outcome on October 29, following an October 27 order involving Panama-incorporated Huobi Global S.A.
Under the agreement, HTX pledged not to knowingly communicate unlawful crypto promotions, directly or indirectly, until October 21, 2031. The restrictions cover its website, applications, and social media accounts.
Meanwhile, the FCA raised concerns about the exchange’s opaque ownership and unidentified platform operators. Although the court stayed proceedings, it retained enforcement powers.
The terms remain confidential, while Huobi Global admitted no liability or wrongdoing. Separately, the FCA confirmed that HTX would stop soliciting UK consumers.
FCA High Court Curbs HTX Crypto Promotions Amid UK Exit
The FCA began proceedings on October 21, 2025, after saying HTX ignored repeated contact attempts and kept publishing crypto promotions. On February 10, 2026, it announced its first enforcement action against a crypto exchange over unlawful marketing to UK customers.
The regulator traced crypto promotions to the website, TikTok, X, Facebook, Instagram, and YouTube. Since October 8, 2023, crypto promotions reaching UK consumers must follow four legal routes. They require communication by an authorized firm, authorized approval, a qualifying registered crypto business, or an applicable exemption.
Under Section 21 of the Financial Services and Markets Act 2000, promotions outside those routes breach the restriction. Separate safeguards also require risk warnings and fair, clear marketing.
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Existing UK Users Face Deposit Halt and Limited Consumer Protection
HTX has exited the UK, blocking new registrations and deposits. The FCA also confirmed that the exchange will no longer target, solicit, or actively approach UK consumers. However, the court undertaking specifically restricts unlawful crypto promotions rather than imposing every aspect of the exit.
Meanwhile, existing customers holding assets should review HTX’s published withdrawal arrangements. Although the promotional restrictions do not prohibit withdrawals, customers must follow the exchange’s stated procedures.
HTX also remains on the FCA Warning List as an unauthorized firm. Consequently, customers cannot access the Financial Ombudsman Service (FOS) for complaints against HTX or receive Financial Services Compensation Scheme (FSCS) protection if the exchange fails. The FCA therefore advises consumers to verify company permissions through its Firm Checker.
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Related: UK FCA Opens DeFi and Crypto Consultations Ahead of 2027 Rules
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
