HTX halts UK promotions after FCA settlement, faces sanctions in UK and EU

Crypto exchange HTX has reached an agreement with the Financial Conduct Authority (FCA) to cease unlawfully promoting its services to consumers in the United Kingdom. The settlement was disclosed by the FCA on Thursday, marking a significant development in regulatory action within the UK crypto sector. The FCA stated that HTX, which previously operated under the name Huobi, is no longer accepting deposits from UK customers. Additionally, the platform has stopped permitting new user registrations from the country. This move follows intensified regulatory scrutiny surrounding the marketing practices of international digital asset exchanges targeting UK residents without proper authorization. Huobi Global S.A., the entity behind HTX, has given a formal assurance to the UK High Court.

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