FCA wins High Court undertakings against crypto exchange HTX over unlawful UK promotions

HTX, formerly known as Huobi, has agreed not to knowingly promote cryptoasset services unlawfully to UK consumers after the Financial Conduct Authority secured undertakings in the High Court.

The FCA secured the undertakings after taking legal action against HTX in October 2025 for alleged breaches of UK financial-promotion rules — rules that have been in force since October 2023 and require cryptoasset promotions to be fair, clear and not misleading. Under section 21 of the Financial Services and Markets Act 2000, unauthorised persons cannot communicate financial promotions unless an exemption or authorised approval applies. HTX agreed not to knowingly, directly or indirectly, communicate or cause to be communicated any promotions breaching that provision across its website, apps and social-media platforms.

HTX is no longer active in the UK. Existing users cannot make deposits, and new UK users cannot sign up to the platform.

The undertakings also commit HTX not to target, solicit or actively seek to engage UK consumers. The FCA directed UK users to HTX’s website for information about service availability — though the regulator has not published figures on how many UK consumers were affected or the number and value of promotions alleged to have breached the rules. No financial penalty was identified in the verified official material.

The FCA’s use of High Court undertakings — rather than a fine or criminal prosecution — means HTX has made binding legal commitments without a court finding of liability. It’s a tool the regulator has leaned on to restrict overseas crypto firms operating outside the UK’s authorisation framework.