- The FCA filed a civil claim in London’s High Court alleging HTX (formerly Huobi) breached the Financial Promotions Regime by marketing to UK consumers without authorization
- The regulator says overseas firms must comply if promotions reach UK audiences; HTX remains on the FCA consumer warning list
- Justin Sun is not named as a defendant, but his adviser role keeps the case in the political spotlight
The UK Financial Conduct Authority launched civil proceedings in London’s High Court against HTX, alleging unauthorized crypto promotions to UK users in breach of FSMA s21 and the Financial Promotions Regime that took effect in 2023.
The agency reiterated that any firm, local or overseas, must secure approval from an authorised entity before communicating investments to UK consumers.
What The Case Targets And Why It Matters
According to the regulator, HTX breached the Financial Services and Markets Act by promoting investment activities without approval from a licensed entity. The FCA insists that all firms local or international must comply with the Financial Promotions Regime if their campaigns reach UK audiences. Consequently, HTX now joins a growing list of platforms, including Binance and OKX, facing regulatory pressure for unauthorized marketing.
The lawsuit targets Huobi Global and several unnamed individuals believed to be responsible for HTX’s operations and promotional campaigns. The company has continued to serve UK clients despite earlier warnings. Additionally, the FCA lists HTX on its consumer alert registry, advising investors to avoid dealing with the exchange.
Related: UK FCA Advances Plans to Boost Tokenization in Asset Management
Justin Sun’s Link Draws Attention; But He’s Not A Defendant
Because Justin Sun serves as a global adviser to HTX, the case will draw wider scrutiny. He isn’t named in the filing, but his profile and prior controversies ensure the lawsuit lands with global visibility as the UK tests how far its promotions rules reach non-UK platforms.
He is also a key supporter of World Liberty Financial, a digital asset venture linked to the Trump family. Analysts have pointed out that blockchain wallets associated with Sun hold significant amounts of tokens tied to the Trump ecosystem.
What UK Users Should Expect If The FCA Prevails
If the FCA wins or secures undertakings, HTX could face marketing restrictions, forced changes to on-boarding flows, clearer risk warnings, or even geo-blocking UK users for certain products pending approvals.
For the market, it’s another signal that UK regulators will litigate to enforce promotions compliance, not just issue warnings.
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