HTX Exchange Exits UK Market After Regulatory Settlement

Cryptocurrency exchange HTX has decided to exit the British market following a legal settlement with the Financial Conduct Authority. The regulator had taken action against the company for promoting financial services without the required legal authorization in the country.

The court ruled that the entity, formerly known as Huobi, is now prohibited from directing marketing communications to local consumers. This commitment applies to the official website, mobile applications, and social media channels until October 2031.

The exchange has currently blocked new registrations and deposits from users residing in the United Kingdom. Existing account holders were given a 48-hour window to withdraw their assets before access is permanently terminated.

The FCA emphasized that being headquartered abroad does not exempt crypto firms from complying with British law. This case marks the first time the regulator has taken such action against a company in the sector under financial promotion rules.

The company stated that it has implemented measures to align its operations with local requirements. The agreement does not constitute an admission of guilt or wrongdoing by the platform, and the specific terms of the negotiation remain confidential.