HTX UK exit leaves withdrawals subject to support approval

The UK’s Financial Conduct Authority has reached a settlement with Huobi Global S.A., confirming the exchange has exited the UK market. Deposits and new registrations for UK residents have been halted, and trading is disabled for existing accounts identified as UK-based.

Under the settlement, the FCA says Huobi Global will not target, solicit or actively seek to engage UK consumers. The regulator commenced proceedings on October 21, 2025 and publicly announced them on February 10, 2026, noting that the exchange repeatedly failed to engage before the case began.

HTX has set up a conditional, one-time 48-hour withdrawal window for eligible individuals with residual assets. The FCA announcement does not start a universal deadline for users to remove their funds; instead, the exchange’s own notice directs eligible users to contact support to request access.

Withdrawal process and conditions

Users must pass HTX’s identity, ownership, sanctions, anti-money-laundering, fraud and account-security controls to qualify for the window. Approval permits withdrawal under those conditions, but trading remains disabled, and the exchange explicitly says it will not transfer assets on the user’s behalf.

An approved user must personally withdraw all remaining assets during the 48-hour period. HTX allows the transactions needed to withdraw different asset types, but each remains subject to destination-wallet, blockchain and security controls. The exchange will close the account after full withdrawal.

Affected users must email [email protected] from the address registered to their account and provide a personal-use confirmation. The notice places responsibility for any applicable reporting obligations on users and recommends independent legal advice where appropriate.

Licensing limits and reporting

HTX’s withdrawal arrangement is conditional on a sanctions licence issued by the Treasury. The Personal Remittances General Licence permits specified personal-use payments involving designated credit or financial institutions, subject to its terms, and sets a £55,000 cumulative limit for permitted payments in respect of an individual.

The limit applies across the period from the licence’s issue to its expiry, with no fresh allowance for each withdrawal transaction or asset type. Payments relating to goods or services for commercial purposes are excluded, and HTX requires users to confirm that their withdrawal is for personal use.

An amendment dated May 26, 2026 added a reporting requirement for anyone using cryptoassets to make or receive payments under the licence. They must report to HM Treasury within 14 days of the end of the calendar month in which those payments were made or received.

The report must include amounts paid or received, the payment route with account or wallet details, and the transaction dates, with supporting evidence. The individual must also confirm personal use in accordance with the licence. HTX’s notice says users are responsible for determining and complying with obligations that apply to them.

Court undertaking and confidentiality

A Tomlin order dated October 27, 2026, made by Deputy Master Holden in claim FS-2025-000015, records a confidential settlement agreement dated October 16. Huobi Global, the Panama-incorporated first defendant, gives undertakings to the court until October 21, 2031.

The undertaking prohibits Huobi Global from knowingly communicating, or causing the communication of, financial promotions that contravene section 21 of the Financial Services and Markets Act 2000. It covers direct and indirect conduct, including through officers, servants or agents.

The specified channels extend beyond the existing HTX website to similar websites promulgated by the exchange operator, software applications and social platforms. The order names X, Facebook, Instagram, Telegram, TikTok, YouTube, Discord, Medium and LinkedIn among those channels.

The order stays further proceedings on the settlement terms except for enforcement. The FCA and Huobi Global can apply to the court to enforce the agreement without bringing a new claim. The order makes no order as to costs. The FCA says the settlement constitutes no admission of liability or wrongdoing by Huobi Global or any other person or entity.