The FCA has secured High Court undertakings to ensure that HTX (formerly Huobi), a global crypto exchange, will not knowingly promote cryptoasset services unlawfully to UK consumers.
The FCA took legal action against HTX in October 2025 for breaking UK financial promotion rules. HTX had failed repeatedly to engage with the FCA. Following the commencement of proceedings, HTX took steps to exit the UK. The FCA and Huobi Global S.A. have now reached a settlement in the case.
HTX is no longer active in the UK. Consumers can no longer make deposits, and new UK users cannot sign up to the platform. HTX will not target, solicit or actively seek to engage UK consumers.
UK users of HTX should read the information[2] published on HTX's website about the availability of its services in the UK and the arrangements for withdrawing any residual assets.
Steve Smart, executive director of enforcement and market oversight at the FCA, said: 'Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law. Our action means HTX is leaving the UK and can no longer target UK consumers. The message to other firms is clear: follow the rules or face the consequences.'
Consumers should check a firm's permissions using the FCA Firm Checker[3] and remember that cryptoassets are high-risk investments.
Notes to editors
- Read details of the proceedings and relevant court documents[4]. Huobi Global S.A. is the first defendant in the proceedings.
- View the court order (PDF)[5] containing the undertakings. Huobi Global's undertakings to the court include that it will not knowingly, directly or indirectly, communicate or cause to be communicated a financial promotion in contravention of section 21 of the Financial Services and Markets Act 2000. This covers the HTX website, software applications and social media platforms.
- The proceedings were commenced in the Business and Property Division of the High Court on 21 October 2025.
- The FCA publicly announced[6] its enforcement action on 10 February 2026.
- The terms of the settlement are confidential. The settlement does not constitute an admission of liability or wrongdoing by Huobi Global or any other person or entity.
- Crypto is a high-risk investment and remains largely unregulated in the UK, except for anti-money laundering and financial promotions until October 2027. Use the FCA Firm Checker[3] to check a firm’s permissions.