FCA settles with HTX: the former Huobi leaves the UK under court undertakings
Serguey Asael Shinder2 min readThe UK's Financial Conduct Authority has ended its court case against HTX, the global crypto exchange formerly known as Huobi, with undertakings given to the High Court. The FCA announced the settlement on 29 October.
The regulator sued HTX in October 2025 for breaching UK financial promotion rules; proceedings started on 21 October 2025 in the Business and Property Division of the High Court, and the FCA made the action public on 10 February 2026. The FCA says HTX had repeatedly failed to engage, and after proceedings began it took steps to leave the UK market. Under the settlement with Huobi Global S.A., the first defendant, the company undertakes that it will not knowingly, directly or indirectly, communicate a financial promotion in breach of section 21 of the Financial Services and Markets Act 2000, covering its website, apps and social media.
According to the FCA, HTX is no longer active in the UK: consumers cannot make deposits, new UK users cannot sign up, and the exchange will not target or solicit UK consumers. Existing UK users are directed to HTX's own information on withdrawing remaining assets. The settlement terms are confidential and do not constitute an admission of liability or wrongdoing.
Steve Smart, the FCA's executive director of enforcement and market oversight, said being based overseas does not put crypto firms beyond the reach of UK law. The FCA reminds consumers that crypto remains largely unregulated in the UK, apart from anti-money-laundering and financial promotion rules, until October 2027.
What it means
The outcome is exit rather than a fine, which is what the promotion regime can realistically achieve against an exchange with no UK authorisation: the court order turns a policy expectation into an undertaking that can be enforced as contempt. The more consequential date for exchanges is October 2027, when a full UK authorisation regime for crypto firms is due to start.