Justin Sun-linked HTX quits the UK to settle the FCA's first crypto promotions case and gives British users 48 hours to withdraw

HTX has left the UK to end a court fight with Britain's financial regulator. The Financial Conduct Authority said on Thursday it had settled its High Court case against Huobi Global S.A., the company behind the exchange, which in an order dated October 27 gave undertakings not to knowingly communicate financial promotions that break UK law, or to target UK consumers, through its website, apps or social media.

The FCA says HTX is no longer active in the UK: deposits have stopped and new UK users cannot sign up. Decrypt and Bitcoin Magazine report that existing UK customers are blocked from trading and have 48 hours to withdraw their assets before their accounts are closed. The terms of the settlement are confidential and it is not an admission of liability or wrongdoing. Decrypt and Bitcoin Magazine describe it as the FCA's first case against a crypto firm under the UK's financial promotion rules.

The FCA began proceedings in October 2025, saying HTX had repeatedly failed to engage, and HTX moved to exit the UK after the case started. "Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law," said Steve Smart, the FCA's executive director of enforcement and market oversight. HTX names Justin Sun as a global adviser. Separately, the UK sanctioned Huobi Global in May over alleged support for Russia's financial sector, listing HTX as another name for it; HTX says Huobi Global S.A. is distinct from its online exchange.