Update (Oct. 29, 2026 at 13:30 UTC): This article has been updated to include HTX’s UK exit and withdrawal arrangements and background on Justin Sun.
Cryptocurrency exchange HTX has agreed to stop unlawfully promoting its services to consumers in the United Kingdom under a settlement announced Thursday by the Financial Conduct Authority (FCA).
Huobi Global S.A., the Panamanian company behind HTX, agreed that it would not knowingly run illegal promotions, including through the exchange’s website, apps or social media. The court undertakings run until Oct. 21, 2031.
The settlement terms are confidential, and the agreement does not constitute an admission of liability or wrongdoing.
“Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law,” said Steve Smart, executive director of enforcement and market oversight at the FCA. “The message to other firms is clear: follow the rules or face the consequences.”
In an Oct. 16 notice outlining its UK exit arrangements, the exchange formerly known as Huobi said existing UK accounts could no longer deposit or trade. Eligible users can request a one-time 48-hour window to withdraw remaining assets, subject to approval and compliance checks. Accounts will close after all assets have been withdrawn.
The FCA brought the case in October 2025 and announced it in February, which it said was the agency’s first enforcement action against a crypto firm over illegal marketing.
HTX’s Sun ties and sanctions history
HTX counts Tron founder Justin Sun as an adviser. Sun has invested in crypto projects linked to US President Donald Trump, including World Liberty Financial and the TRUMP memecoin.
Sun sued World Liberty in April over the freezing of his WLFI tokens. The company filed a defamation suit against him in May, with Sun denying its allegations.
The settlement in the UK follows separate sanctions against the exchange in the country and European Union.
The UK sanctioned Huobi Global on May 26, imposing an asset freeze over suspected support for Russia’s government. HTX said the company was separate from the exchange, but UK authorities said the platform was covered because Huobi Global owned it.
The EU followed on July 23, imposing a transaction ban on HTX that took effect on Aug. 23.
Related: HTX denies UK sanctions allegations as new data flags $7.6B Russia-linked flows
