TL;DR
- HTX agreed to stop promoting its cryptocurrency services in the United Kingdom until October 2031 following a lawsuit filed by the FCA.
- The exchange has already blocked deposits, trading, and new account registrations for UK users. Existing customers can request a limited window to withdraw their funds.
- The settlement does not constitute an admission of liability. HTX has also faced allegations in the UK and European Union over its suspected ties to Russia.
HTX agreed to suspend promotions of its cryptocurrency services in the United Kingdom until October 21, 2031, following a court settlement with the UK’s Financial Conduct Authority (FCA).
Huobi Global S.A., the Panama-based company behind the exchange, pledged not to knowingly engage in promotional activities that violate UK law. The restrictions cover its website, mobile applications, and social media posts.
The financial terms of the settlement are confidential, and the agreement does not constitute an admission of liability or wrongdoing by the company.
The FCA initiated legal proceedings in October 2025 and publicly announced the case in February 2026. According to the regulator, it was its first legal action against a cryptocurrency company over unlawful financial promotions.
HTX Restricts Services and Prepares to Exit the UK
The exchange, formerly known as Huobi, published the terms of its exit from the UK market on October 16.
Existing registered users can no longer make deposits or trade, while new account registrations have also been blocked.
Customers who still hold assets on the platform can request a special 48-hour withdrawal window. Approval will depend on compliance checks and authorization from the exchange.
Once all funds have been withdrawn, the accounts will be closed.
Steve Smart, the FCA’s Executive Director of Enforcement and Market Oversight, warned that cryptocurrency companies based outside the United Kingdom must also comply with its laws.
He stressed that operating from overseas does not prevent UK authorities from taking action against platforms that violate the rules.
Sanctions in the United Kingdom and European Union
The court settlement followed sanctions imposed by the United Kingdom and European Union over the exchange’s suspected ties to Russia.
On May 26, UK authorities sanctioned Huobi Global, imposing an asset freeze over suspicions that it supported the Russian government.
HTX maintained that Huobi Global was a separate entity from the exchange. However, UK authorities determined that the platform was also subject to the restrictions because of the ownership relationship between the two.
Subsequently, the European Union imposed a transaction ban on HTX on July 23, which took effect on August 23.
The exchange also has ties to Justin Sun, founder of Tron, who serves as an adviser to the platform and has invested in projects linked to Donald Trump, including World Liberty Financial and the TRUMP memecoin.
