What to Know
- The UK’s FCA has taken High Court action against HTX for allegedly promoting crypto services to UK users without approval.
- The regulator asked Google, Apple, and social platforms to block HTX apps and accounts in the UK.
- HTX and related unknown operators are accused of continuing promotions despite earlier FCA warnings.
The United Kingdom’s financial watchdog has started legal action against crypto exchange HTX, saying the platform promoted crypto services to UK consumers without following the country’s advertising rules.
The case was filed by the Financial Conduct Authority (FCA) in the High Court and targets HTX, along with several unnamed people believed to be behind the exchange and its promotions. The regulator says the company continued marketing to British users even after being warned.
FCA Starts Court Proceedings
According to the FCA, court proceedings began on 21 October 2025 in the Chancery Division of the High Court. The main company named is Huobi Global S.A., a Panama-incorporated firm linked to HTX. The lawsuit also includes several “persons unknown.” These are individuals or groups believed to control the HTX website, mobile apps, platform operations, and social media promotions. The regulator says these unknown persons may be owners, operators, or controllers connected to the exchange and its marketing activities.
On 4 February, the High Court allowed the FCA to serve legal papers outside the UK and through alternative methods. This step was needed because the company is based overseas and its ownership structure is not clearly disclosed.
What the FCA Is Alleging
The FCA says HTX promoted crypto services to UK consumers without proper approval. In the UK, financial promotions must follow strict rules so that ads are clear, fair, and not misleading. The regulator says that promoting crypto products without meeting these rules is a criminal offense. It adds that HTX continued to publish promotions on its website and across social media platforms despite earlier warnings.
These platforms include X, Facebook, Instagram, TikTok, YouTube, Telegram, Discord, Medium, and LinkedIn. The FCA believes promotions targeting UK users were still visible and active across these channels. The legal action falls under the UK’s financial promotion rules introduced in October 2023, which tightened how crypto firms can advertise to British consumers.
Requests to Block Apps
Along with the lawsuit, the FCA has asked major tech companies to restrict HTX’s reach in the UK. According to reports, the regulator requested that Google and Apple remove HTX-related apps from their UK app stores. It also asked social media companies to block HTX’s accounts from being viewed by users in the UK.
The FCA has placed HTX on its public Warning List as well. This list alerts consumers about firms that may be offering financial services without permission. The regulator warns that users dealing with such firms may not get protection if something goes wrong.
The FCA said HTX operates with what it called an “opaque organisational structure.” In simple terms, the regulator claims it is hard to identify who owns and runs the platform. It also said repeated attempts to contact and engage with the company were ignored. While HTX reportedly stopped allowing new UK customers to sign up, the FCA says existing UK users can still log in and see promotional content that may break the rules.
Final Thoughts
Steve Smart, joint executive director of enforcement and market oversight at the FCA, said this is the first time the regulator has taken this level of enforcement action against a crypto firm for illegal marketing to UK consumers.
He said most firms are trying to follow the rules, but HTX’s actions stand in contrast. He added that the FCA will continue to act against companies that ignore UK promotion laws.
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