FCA and HTX hold settlement talks over UK crypto promotion claim
London’s High Court has paused the FCA’s claim against HTX until late August as the sides discuss a possible settlement.
By Dev Ramirez · Crypto Correspondent
· 3 min read
The UK Financial Conduct Authority and crypto exchange HTX are in settlement discussions over the regulator’s civil claim concerning alleged unauthorised UK crypto promotions. For UK crypto users, the immediate point is that no deal or finding of wrongdoing has been announced, while the High Court pause gives both sides until late August to try to resolve the case.
Reuters, citing court filings, reported on August 13 that London’s High Court had stopped the proceedings for two months. The parties exchanged emails in March, then began talks that ran for three months before the court extended the period by another two months on June 25, Reuters reported.
The FCA and HTX declined to comment on the status of the discussions, according to Reuters. Lawyers for HTX did not respond to Reuters’ requests for comment.
What does the FCA claim against HTX allege?
The FCA filed its claim on October 21, 2025, against Panama-incorporated Huobi Global S.A. and several groups described as “persons unknown.” Those groups include alleged owners or controllers of the HTX exchange, people operating the platform, and people controlling its promotional accounts.
The regulator’s court filing says HTX, previously called Huobi until about September 2023, operates a website and mobile apps where users can buy, sell and trade cryptoassets and related products. The FCA alleges that the platform’s terms did not identify its legal or natural-person operators, and that HTX did not provide its corporate identity after requests.
The legal issue is a financial promotion, meaning marketing that invites or encourages someone to use an investment product or service. Under section 21 of the Financial Services and Markets Act 2000, the FCA says unauthorised promotions are prohibited. The rule can apply to communications that begin outside the UK if they can affect people in the UK.
In its claim, the FCA alleges that HTX promotions appeared on X, Facebook, Instagram, Telegram, TikTok, YouTube, Discord, Medium and LinkedIn. These remain allegations in an unresolved civil case, rather than findings by the court.
What does the case mean for UK users?
The FCA’s warning page for HTX, first published in October 2023 and updated in February 2026, says the firm is not authorised by the regulator and may be targeting UK customers. The FCA advises consumers to avoid dealing with it and to be alert to scams.
The regulator says a person dealing with HTX would not be able to use the Financial Ombudsman Service to complain and would not have Financial Services Compensation Scheme protection if the firm failed. Reuters reported that HTX and Huobi were added to the FCA’s list of unauthorised companies in 2023 and 2024.
HTX says in an undated notice on its website that its products and services are not intended for UK users. A spokesperson told Reuters the company was committed to compliance, transparency and user protection, without addressing the specific allegations or the settlement timetable.
A settlement would end or reshape the current dispute, but its terms, if any, are not public. Until an agreement is reached or the case returns to court, the FCA’s allegations have not been adjudicated.
This story draws on original reporting from Decrypt.
