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- FCA targets HTX for violating UK crypto promotion regulations.
- Legal action escalates as HTX ignores FCA warnings on promotions.
- FCA demands HTX block UK users and remove app store listings.
The UK’s Financial Conduct Authority (FCA) has ramped up enforcement against HTX, a crypto exchange formerly known as Huobi, for continuing to promote illegal crypto services to UK consumers. This is a legal move following claims that HTX had flouted the financial promotion regulations introduced in October 2023, which require companies targeting the UK to seek appropriate approval for their promotions.
HTX is alleged to have issued unauthorized financial promotions on various social media channels, including TikTok, X, Facebook, Instagram, and YouTube. Although the FCA had earlier advised HTX of the illegality of its operations, the financial regulator filed a court case claiming that the company had not ceased its illegal operations. The FCA has described HTX’s corporate structure as opaque and said the company did not have any meaningful discussions despite several overtures by the regulator.
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Although the FCA also noted that new customers in the UK were unable to open an account with HTX, the organization continued to use the company’s illegal promotions, as reported by the agency. The regulator is concerned because the firm has not provided assurances that such restrictions will be long-lasting. Besides legal action, the FCA has requested that social media platforms ban the accounts of UK-based HTX users and that Apple and Google remove the HTX app from the United Kingdom app stores.
HTX’s Ongoing Defiance and the FCA’s Determination to Protect Consumers
The legal action is a dramatic step by the FCA to combat non-compliant crypto firms. HTX’s continued disregard for the financial promotion rules is in stark contrast to other companies striving to comply with the UK’s regulatory framework. This is the first time the FCA has taken action against HTX, and it indicates the regulator’s intent to enforce compliance with regulations across all crypto companies.
The FCA’s efforts to combat HTX’s activities have been ongoing since 2023, when the company was first warned about its promotional activities. This led the FCA to a High Court case in October 2025 involving HTX and individuals who appear to have been running its promotions. The action taken by the FCA is also related to the growing debate in UK crypto marketing regulation. Although certain industry players, including Kraken’s co-CEO, have spoken out against the regime, claiming it is too restrictive, the FCA stands firm and continues to vow to keep cracking down on companies that disobey the rules.
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