FCA Secures Agreement with HTX to End Unauthorized Crypto Advertising in Britain
Following FCA action, HTX commits to cease all cryptocurrency promotional activities in Britain through October 2031, having already suspended deposit functions and new user registrations.
The cryptocurrency trading platform HTX has committed to ceasing unauthorized promotional activities targeting United Kingdom consumers following a settlement revealed Thursday by the nation's Financial Conduct Authority (FCA).
The digital asset exchange, which previously operated under the Huobi brand name, has discontinued accepting deposit transactions from British customers and has blocked the creation of new accounts for residents of the country, the FCA confirmed.
The entity operating HTX, Huobi Global S.A., made assurances to the High Court that it would refrain from knowingly conducting unlawful promotional campaigns, encompassing activities on the exchange's digital platform, mobile applications, and social networking channels. This commitment extends through Oct. 21, 2031.
The regulatory agency initiated legal proceedings in October 2025 and made a public announcement in February, marking what the FCA characterized as the watchdog's inaugural enforcement proceeding against a cryptocurrency company concerning unlawful advertising practices.
The agreement resolving the dispute carried an Oct. 16 date and was formally documented in a court directive issued Tuesday. The specific conditions of the settlement remain private, and Huobi Global made no acknowledgment of culpability or misconduct.
The resolution comes on the heels of distinct punitive measures levied against HTX within both the UK and European Union jurisdictions.
British authorities imposed sanctions on Huobi Global on May 26, implementing asset freezing measures based on allegations of providing assistance to the Russian governmental apparatus. HTX contended that the corporate entity existed independently from the trading platform, however British regulators maintained the exchange fell under the sanctions because Huobi Global held ownership stakes.
European Union authorities enacted similar measures on July 23, implementing a prohibition on transactions involving HTX which became operative on Aug. 23.