The UK’s Financial Conduct Authority (FCA) has filed a civil lawsuit against HTX, formerly known as Huobi, for allegedly promoting crypto-asset services to UK consumers without proper authorisation. The case, reported by Reuters, marks one of the most prominent enforcement actions under the UK’s expanded financial promotions regime for cryptoassets.
According to the FCA, the exchange is accused of unlawfully targeting UK users with marketing materials and services that fall within the scope of regulated financial promotions. Under current rules, only firms registered with the FCA are permitted to advertise or offer cryptoasset products to UK consumers.
The lawsuit is part of a broader crackdown aimed at ensuring that crypto promotions are “fair, clear and not misleading.” Since the regime came into force in 2023, dozens of warnings have been issued against unregistered firms operating in the UK market.
HTX, which rebranded from Huobi in 2023, has not issued a public response to the FCA’s latest filing at the time of publication. The case is expected to test how UK courts interpret the FCA’s extended powers over overseas-based crypto platforms.
