FCA secures court undertakings forcing HTX (formerly Huobi) out of U.K.

The U.K.’s Financial Conduct Authority said Thursday it has secured High Court undertakings that force crypto exchange HTX, formerly known as Huobi, to stop unlawfully promoting its services to U.K. consumers and effectively leave the British market. The immediate effect for customers is that new U.K. users can no longer sign up and existing U.K. users can no longer make deposits, according to the regulator.

The FCA said the undertakings were recorded in a High Court Tomlin order dated Oct. 27, 2026, linked to a confidential settlement agreement dated Oct. 16. They run until Oct. 21, 2031. The regulator said the settlement terms are confidential and do not amount to an admission of liability or wrongdoing by Huobi Global S.A. or anyone else.

The outcome caps a case the FCA formally began in October 2025. Court filings show proceedings were started on Oct. 21, 2025, in the High Court against Huobi Global S.A., the first defendant identified by the regulator. The FCA announced the enforcement action publicly on Feb. 10, 2026, and published the latest outcome on Thursday, Oct. 29, 2026.

HTX is the global crypto exchange previously branded Huobi. The FCA’s court filings say the platform changed its name around September 2023. The regulator said HTX had repeatedly failed to engage with it and that, after proceedings began, the exchange took steps to exit the U.K. According to the FCA, HTX is no longer active in the country.

At the center of the case is section 21 of the Financial Services and Markets Act 2000, the U.K. rule that restricts unlawful financial promotions. In practical terms, unauthorised firms cannot market investment activity to U.K. consumers unless the promotion is approved by an authorised firm or falls within an exemption. The undertakings cover promotions through HTX’s website, software applications and social media platforms.

That matters because Britain’s crypto sector is still only partly regulated. So far, oversight has focused mainly on anti-money-laundering requirements and the financial-promotion regime, while a broader crypto rulebook is due to take effect on Oct. 25, 2027. This case shows the FCA using existing promotion rules now, including against an overseas exchange, rather than waiting for the fuller regime to arrive.

The platform’s scale in Britain helps explain the FCA’s interest. In court filings, the regulator said HTX was the sixth most-accessed virtual asset service provider in the U.K. in 2023.

The FCA said HTX has agreed it will not target, solicit or actively seek to engage U.K. consumers. Steve Smart, the FCA’s executive director of enforcement and market oversight, said: “Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of U.K. law. Our action means HTX is leaving the U.K. and can no longer target U.K. consumers. The message to other firms is clear: follow the rules or face the consequences.”

For existing U.K. users, the practical next step is to check HTX’s website for information on the availability of services in the U.K. and arrangements for withdrawing residual assets. The FCA also said consumers should verify firms using its Firm Checker before using crypto services.