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HTX's UK access has closed
HTX, the exchange that used the Huobi name before its 2023 rebrand, has left the UK after resolving a lawsuit brought by the Financial Conduct Authority (FCA). On 29 October 2026, the regulator said the firm had given court undertakings not to knowingly market its services to consumers in the country. The FCA says HTX is no longer active in the UK.
The case was the FCA's first court action against a crypto firm over consumer promotion since financial promotion rules began covering crypto in October 2023. Enforcement more often happens outside court: the regulator flagged nearly 20,000 promotions in 2024, almost twice the previous year's total. The FCA's warning list identifies firms it suspects of operating without permission. FM Intelligence logged 240 UK warnings in the 30 days ending 28 October.
Legal action spread across platforms
The FCA filed its claim in the High Court in London in October 2025, naming Panama-incorporated Huobi Global S.A. And groups of unidentified people who ran HTX's social accounts. Those accounts appeared on Telegram, LinkedIn, X, YouTube, Instagram, Medium, TikTok, Facebook and Discord.
When it publicised the case in February, the FCA asked social media companies to restrict the accounts for UK users and Apple and Google to remove HTX's apps from their UK stores. The regulator said the exchange had repeatedly failed to engage before withdrawing from the market.
A Tomlin order dated Tuesday records the settlement. The FCA says the terms are confidential and that the agreement is not an admission of wrongdoing or liability by Huobi Global or anyone else. The regulator directed remaining UK customers to HTX's website for asset withdrawal instructions. The case also landed amid sanctions pressure: in May, the UK sanctioned HTX and 17 other crypto businesses it said were part of networks supporting Russia's economy. In July, HTX appeared on the European Union's Russia sanctions list. From 23 August, Binance halted transactions involving HTX and 10 other platforms, citing regulatory developments.
HTX disputed that the UK designation applied to its exchange. The settlement and surrounding developments were also reported by Finance Magnates.
- UK customers can no longer deposit funds.
- New UK customers cannot register.
- HTX has undertaken not to target or solicit UK consumers through its website, apps or social media.
What to watch next
HTX's route back to UK customers would require FCA authorisation. The regulator opened its application window on 30 September. Applications filed by 28 February 2027 will be assessed before the new regime begins on 25 October 2027; existing registrations will not convert automatically. HTX took another step in its corporate history when Justin Sun gained a controlling stake in 2022. The company calls him an adviser. It changed its name from Huobi in 2023, the year $258 million flowed out after a cyberattack.
Under the current anti-money laundering registration system, 68 of 391 completed crypto applications between January 2020 and 1 August 2026 secured registration, while 263 were withdrawn. That is a 17% registration rate across the period, rising to 56% over the latest 12 months on 23 decisions. For operations teams, the immediate checks are whether UK onboarding and deposit controls reflect HTX's stated restrictions, and how customers still holding assets are directed to withdrawal support. The FCA has not said what technical controls HTX uses to enforce its commitments.
