FCA secures High Court undertakings from crypto exchange HTX

The Financial Conduct Authority said in a press release on 29 October 2026 that it has secured High Court undertakings to ensure that HTX, formerly known as Huobi, will not knowingly promote cryptoasset services unlawfully to UK consumers. The regulator said it took legal action against HTX in October 2025 for breaking UK financial promotion rules, and that HTX had failed repeatedly to engage with the FCA.

According to the FCA press release, the proceedings were commenced in the Business and Property Division of the High Court on 21 October 2025, with Huobi Global S.A. named as the first defendant. The FCA publicly announced its enforcement action on 10 February 2026. Following the commencement of proceedings, HTX took steps to exit the UK, and the FCA and Huobi Global S.A. have now reached a settlement.

The FCA said HTX is no longer active in the UK: consumers can no longer make deposits, and new UK users cannot sign up to the platform. Huobi Global's undertakings to the court include that it will not knowingly, directly or indirectly, communicate or cause to be communicated a financial promotion in contravention of section 21 of the Financial Services and Markets Act 2000, covering the HTX website, software applications and social media platforms.

Steve Smart, the FCA's executive director of enforcement and market oversight, said in the release: 'Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law. Our action means HTX is leaving the UK and can no longer target UK consumers.'

The FCA said the terms of the settlement are confidential, and that the settlement does not constitute an admission of liability or wrongdoing by Huobi Global or any other person or entity. The record does not state the amount of any financial penalty or the value of consumer assets involved.