Key takeaways HTX exits Britain after settling landmark FCA crypto lawsuit UK customers face restrictions and a short withdrawal window Settlement follows separate sanctions against a Huobi-l
Cryptocurrency exchange HTX, formerly Huobi and closely associated with Tron founder Justin Sun, has agreed to leave the United Kingdom after settling a lawsuit brought by Britain's financial regulator over allegedly unlawful cryptocurrency promotions.
The Financial Conduct Authority announced on October 29 that it secured High Court undertakings preventing HTX from knowingly promoting crypto services unlawfully to British consumers. New UK registrations and deposits are already blocked, while existing customers face restrictions on accessing the platform.
The settlement ends the FCA's first enforcement case against a cryptocurrency company under its financial-promotion rules, creating a precedent for offshore exchanges attempting to serve British customers without complying with local requirements.
HTX Customers Face 48-Hour Withdrawal WindowAccording to the Financial Times, HTX has informed existing UK customers that trading is unavailable and they have 48 hours to withdraw remaining assets before account closure.
The FCA has directed affected customers to HTX's website for withdrawal arrangements rather than specifying a universal deadline in its announcement.
The dispute began on October 21, 2025, when the regulator initiated High Court proceedings against Huobi Global S.A. and unidentified parties controlling the exchange's operations and promotional channels.
The FCA alleged that HTX continued advertising cryptocurrency services through its website and social media despite earlier warnings about Britain's financial-promotion requirements.
Those rules, introduced in October 2023, restrict how cryptocurrency businesses market investment products to UK consumers, including through overseas platforms.
The resulting agreement covers promotions through websites, applications and social media, potentially limiting HTX's ability to reenter the market without meeting regulatory requirements.
UK Exit Follows Earlier Sanctions Against Huobi EntityThe settlement arrives five months after Britain imposed sanctions on Panama-based Huobi Global S.A. over alleged financial services involving Russia-linked entities.
British authorities previously alleged that the entity facilitated financial activity connected to sanctioned organizations, including A7 and Garantex-related operations.
HTX disputed the sanctions implications, maintaining that Huobi Global S.A. was legally separate from the online exchange.
The restrictions also sparked controversy across decentralized finance after Hyperliquid reportedly blocked wallets indirectly connected to HTX.
Meanwhile, the exchange became involved in a separate dispute with Trump-linked World Liberty Financial after stablecoin addresses were frozen following sanctions-related concerns.
