Justin Sun-linked crypto exchange HTX will exit the UK after the Financial Conduct Authority (FCA) secured undertakings from the company through a High Court settlement, preventing it from knowingly making unlawful crypto promotions to UK consumers.
The FCA reached the settlement with Huobi Global S.A., the company behind HTX, following legal proceedings over alleged breaches of UK financial promotion rules. The FCA announced the settlement today.
The regulator said HTX had “failed repeatedly to engage with the FCA” and that, after legal proceedings began, “HTX took steps to exit the UK.”
It added: “HTX is no longer active in the UK.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.”
According to the FCA, “The settlement does not constitute an admission of liability or wrongdoing by Huobi Global or any other person or entity.”
HTX told the Financial Times it had “proactively implemented measures to align with the UK’s financial promotion regulations.”
FCA action follows sanctions
Today’s action stems from the FCA’s October 2025 legal proceedings, which accused HTX of illegally promoting cryptoasset services to UK consumers in breach of the country’s financial promotions rules, introduced in October 2023.
HTX and Huobi Global S.A. were also sanctioned by the European Union 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. The UK government considers HTX subject to the sanctions because of its ownership by Huobi Global S.A.
Read more: HTX’s proof of reserves doesn’t match its blockchain balances
At the time, HTX sought to distance itself from the designation, claiming that “the listed entity Huobi Global S.A. is distinct from the online HTX exchange.”
However, Protos found that Huobi Global S.A. owned the HTX trademark in the United States and had described itself in court filings as the firm that “owns and operates HTX.”
Furthermore, the EU sanctions explicitly list HTX alongside Huobi Global S.A.
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