FCA Secures High Court Undertakings Ending HTX Crypto Promotions in the UK

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📅 30 October 2026 • UK Financial Conduct Authority • FCA Secures High Court Undertakings Ending HTX Crypto Promotions in the UK

The UK Financial Conduct Authority has secured High Court undertakings ensuring that HTX, the crypto exchange formerly known as Huobi, will not knowingly promote cryptoasset services unlawfully to UK consumers. The undertakings are recorded in a Tomlin order made by Deputy Master Holden on 27 October 2026, following a settlement between the FCA and Huobi Global S.A., the Panama-registered first defendant. The terms of the settlement are confidential, and the settlement involves no admission of liability or wrongdoing by Huobi Global or any other person or entity.

How the case developed

The FCA commenced proceedings against HTX in the High Court on 21 October 2025 and publicly announced the enforcement action on 10 February 2026, describing it as its first enforcement action against a crypto firm illegally marketing products to UK consumers. The regulator said HTX had repeatedly failed to engage. After proceedings began, HTX took steps to exit the UK. It is no longer active there: there are no deposits and no new UK sign-ups, and HTX will not target, solicit or actively seek to engage UK consumers.

What the undertakings cover

Huobi Global's undertakings to the court cover direct and indirect communications and expressly include the HTX website, software applications and social media platforms including X, Facebook, Instagram, Telegram, TikTok, YouTube, Discord, Medium and LinkedIn, in the court order schedule reported by independent outlets. Independent reports add that the undertakings run until 21 October 2031 and that the settlement agreement is dated 16 October 2026. HTX's notice says eligible UK users can request a one-time 48-hour window to withdraw residual assets, subject to approval and compliance checks.

Regulatory reach and context

Steve Smart, the FCA's executive director of enforcement and market oversight, said: '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 states that crypto remains largely unregulated in the UK except for anti-money laundering supervision and the financial promotions regime, which runs until October 2027. The promotions regime has applied since October 2023 to crypto firms marketing to UK consumers, including firms based overseas.

IMPACT

— Crypto exchanges and other firms marketing to UK consumers: the order confirms that section 21 FSMA 2000 is enforced through the High Court against overseas operators and persons controlling promotion accounts.
— Overseas-located firms: an overseas base is no shield from UK enforcement, in the words of the FCA statement.
— HTX UK users: deposits and new sign-ups are blocked, and eligible users face a one-time 48-hour withdrawal window subject to checks before accounts close.
— Compliance processes: promotions aimed at UK audiences need review under a regime that applies until October 2027, alongside AML supervision.
— Timelines and risks: the undertakings run until 21 October 2031, settlement terms stay confidential, and proceedings are stayed except for enforcement of the agreement.