FCA Targets HTX Over Illegal Crypto Ads Aimed at UK Users

• FCA sues HTX for illegal UK crypto ads; court allows serving offshore entities via alternative means.
• Social media and app blocks requested to stop HTX promotions; UK users still face risk.
• HTX on FCA warning list; consumers can’t use Ombudsman and funds may not be recoverable.

The UK’s Financial Conduct Authority has launched legal proceedings against HTX. The crypto exchange, formerly known as Huobi, faces charges for illegally promoting crypto services to UK consumers. 

This marks the FCA’s first enforcement action against a crypto firm for breaking financial promotion rules. The regulator began High Court proceedings on October 21, 2025. HTX continued advertising despite previous warnings from the authority.

First Major Crypto Promotion Crackdown

The FCA introduced strict financial promotion rules in October 2023. These regulations require proper authorization and clear risk warnings for crypto marketing. 

HTX ignored multiple warnings about compliance. The exchange kept promoting its services across major social media platforms.

According to the FCA, HTX published unauthorized promotions on TikTok, X, Facebook, Instagram, and YouTube. The company also advertised through its website and mobile apps. Most crypto firms have complied with the new regime. HTX stands out as an exception.

Hidden Ownership and Ignored Warnings

HTX operates through an opaque structure that conceals ownership details. Huobi Global S.A., a Panama-incorporated company, is named in the proceedings. The FCA also targeted “persons unknown” controlling the HTX website and apps.

The regulator attempted multiple times to engage with HTX. Every attempt was ignored. Steve Smart, joint executive director of enforcement at the FCA, criticized the exchange’s conduct. He said HTX’s behavior contrasts sharply with compliant firms.

The High Court granted permission for international service on February 4, 2026. This allows the FCA to serve proceedings despite HTX’s offshore status.

Platform Blocks and User Restrictions

The FCA requested social media companies to block HTX accounts for UK users. They also asked Google and Apple to remove HTX apps from UK stores. These measures aim to protect British consumers from unlawful promotions.

HTX has restricted new UK customer registrations since the proceedings began. 

However, existing users can still access their accounts. They continue seeing unauthorized financial promotions. The FCA expressed concern about ongoing breaches.

HTX provided no guarantee that the restrictions would be permanent. The exchange remains on the FCA’s Warning List. This means UK consumers dealing with HTX cannot access the Financial Ombudsman Service.

Consumer Protection Takes Priority

The FCA emphasized that compliant rules support a sustainable crypto market. Consumers need proper information to make informed decisions. Breaking these rules is a criminal offense.

Smart stated the FCA will continue acting against non-compliant firms. The regulator wants to ensure fair marketing practices across the crypto industry.

Consumers dealing with unauthorized firms risk losing their money. They are unlikely to recover funds if the company fails. The FCA advises avoiding HTX and similar unauthorized platforms.

This case focuses specifically on illegal promotions, not trading fraud or market manipulation. The proceedings center on HTX’s failure to meet UK regulatory standards for financial advertising.

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