Justin Sun's HTX Agrees to Leave UK in Settlement With Financial Watchdog
Crypto exchange HTX has agreed to leave the UK after settling a lawsuit brought by the Financial Conduct Authority (FCA) over illegal crypto promotions, the regulator announced on Thursday.
The FCA secured undertakings in the High Court that HTX, formerly known as Huobi, will not knowingly promote crypto services unlawfully to UK consumers. The regulator said it had secured a court order requiring the Panama-registered company to not communicate financial promotions in breach of UK law across its website, apps and social media.
HTX is no longer active in the UK, meaning UK consumers can no longer make deposits and new users cannot sign up. The exchange said it had proactively implemented measures to align with the UK's financial promotion regulations.
Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law.
On its website, HTX stated that existing UK customers are blocked from trading and have 48 hours to withdraw their assets before their accounts are closed.
FCA's first crypto enforcement case
The regulator began proceedings against HTX in October 2025, its first enforcement case against a crypto firm under the UK's financial promotion rules. The two sides began settlement talks in March, which were extended in June.
The terms of the settlement are confidential, and it does not amount to an admission of liability or wrongdoing, the FCA said.
Sanctions and legal challenges
In May, the UK sanctioned Huobi Global S.A. over alleged support for Russia's financial sector, with the government's notice listing HTX as another name for the designated entity. Two months later, the European Union named Huobi Global in its 21st package of Russia sanctions, accusing it of "significantly frustrating" the bloc's measures and barring EU transactions with the exchange, though stopping short of a full asset freeze.
HTX has said Huobi Global S.A. is "distinct from the online HTX exchange."
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