Crypto exchange HTX has exited the UK market following a High Court settlement with the Financial Conduct Authority (FCA). The regulator secured undertakings from Huobi Global S.A., the company operating HTX, preventing it from making unlawful crypto promotions to UK consumers.
The FCA initiated legal proceedings against HTX over alleged breaches of UK financial promotion rules, which were introduced in October 2023. According to the regulator, HTX had "failed repeatedly to engage with the FCA" before taking steps to exit the market once legal action began.
HTX is no longer active in the UK. Consumers can no longer make deposits, and new UK users cannot open accounts on the platform. The exchange has committed to not targeting, soliciting, or actively seeking to engage UK consumers.
In a statement, HTX told the Financial Times it had "proactively implemented measures to align with the UK's financial promotion regulations." The FCA noted that the settlement "does not constitute an admission of liability or wrongdoing by Huobi Global or any other person or entity."
Background on Sanctions
The FCA action follows a series of sanctions against HTX and its parent company. The European Union sanctioned HTX and Huobi Global S.A. in July 2026 over their alleged role in frustrating existing EU sanctions against Russia. The UK had previously sanctioned Huobi Global S.A. in May 2026 over its suspected role in providing financial services to Russia, with the UK government considering HTX subject to those sanctions due to its ownership structure.
HTX had sought to distance itself from the EU sanctions designation, claiming that Huobi Global S.A. is distinct from the HTX exchange. However, regulatory filings show Huobi Global S.A. owns the HTX trademark and has described itself as the entity that "owns and operates HTX." The EU sanctions explicitly list HTX alongside Huobi Global S.A.
