The UK financial regulator (Financial Conduct Authority, FCA) announced on 29 October 2026 that it had secured undertakings in the High Court from the crypto exchange HTX, formerly known as Huobi. Huobi Global S.A. has undertaken not to knowingly promote crypto services unlawfully to consumers in the United Kingdom.
The FCA began proceedings on 21 October 2025 over breaches of UK financial promotion rules. According to the regulator, the exchange had previously failed to respond to its requests. After the case began, HTX started to withdraw from the UK. The parties reached a settlement, which the court approved in an order dated 27 October 2026.
The undertakings cover the HTX website, apps and social media. The terms of the settlement are confidential. The FCA stresses that the settlement is not an admission of liability or wrongdoing.
What does this mean in practice? HTX is no longer active in the UK. Existing UK users cannot deposit new funds, and new users cannot open an account. The exchange will also not target advertising at UK consumers. Steve Smart of the FCA said that being based overseas does not put firms beyond the reach of UK law.
What it means for you
If you have an HTX account and live in the UK, you can no longer deposit new money. The FCA advises reading the information on the HTX website about service availability in the UK and how to withdraw any remaining assets.
The wider context also matters. Until October 2027, crypto in the UK remains largely unregulated. Only anti-money laundering and financial promotion rules apply. The FCA’s new, full crypto regime comes into force on 25 October 2027. Until then, if something goes wrong with an exchange, you usually do not have the kind of protection you get with a bank account.
Our assessment
This is a signal to overseas exchanges that lure UK customers with online advertising. The FCA is showing that it can see a case through, even against a firm based abroad. For ordinary investors the lesson is simple: before you deposit money, check whether the firm is allowed to operate legally in the UK. An advert on social media is no guarantee.
What to do
- If you hold funds on HTX, read the exchange’s notice on its UK services and plan your withdrawal.
- Before opening an account on an exchange, check the firm on the FCA Firm Checker.
- Remember that cryptoassets are a high-risk investment – you could lose all the money you put in.
- Report a suspicious crypto advert to the FCA using its scam reporting form.
Source: FCA – FCA stops HTX’s crypto promotions (29 October 2026).
We assess factual corrections and substantive responses. Verified changes are reflected in our reporting.
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