Summary:

• The UK's Financial Conduct Authority (FCA) has begun High Court proceedings against cryptocurrency exchange HTX and unnamed individuals for allegedly promoting crypto services unlawfully to UK consumers.
• The action alleges breaches of the FCA's tightened Financial Promotions Regime, under which firms must comply with strict advertising rules.
• The regulator has already asked social media platforms to block HTX accounts and remove its apps in the UK.
• HTX appears on the FCA's Warning List, signaling UK consumers are not protected if they engage with the platform.

The United Kingdom's financial regulator is escalating enforcement against a high-profile crypto exchange over how it markets its services to British consumers. On Tuesday the Financial Conduct Authority said it has launched court action against HTX, formerly known as Huobi global in the Chancery Division of the High Court, alleging that the exchange illegally promoted cryptocurrency asset services in breach of the UK's advertising rules.The FCA first began proceedings in October 2025, naming HUOBI GLOBAL S.A., a company incorporated in Panama, and a series of "Persons Unknown" linked to the ownership, operation and promotion of the HTX platform and its social media presence. The list of unidentified parties includes persons controlling HTX's promotions across a range of popular social platforms and messaging services, including X, Facebook, Instagram, Telegram, TikTok, YouTube, Discord, Medium and LinkedIn. 

Source

In early February 2026, the High Court approved the FCA's request to serve the proceedings outside the UK and by alternative means, widening the scope of its enforcement. The step confirms the regulator's intent to press its case even if defendants are overseas or difficult to identify. This legal action falls under the FCA's Financial Promotions (FinProm) Regime, which was adopted in October 2023 and has tightened requirements on how firms can market financial and crypto products to UK customers. Under these rules, businesses providing crypto services to investors must ensure their advertising is clear, fair and not misleading - and must carry appropriate risk warnings. Failure to comply can amount to a criminal offence. The regulator emphasized that firms offering crypto products to UK consumers are expected to follow these rules to protect people from unfair marketing and risky claims. It said that advertising crypto asset services on social media or websites without meeting the required standards is unlawful and damaging to consumer confidence.

Before taking court action, the FCA says it issued warnings to HTX about its promotions to UK consumers, suggesting that informal engagement did not result in compliance. Now the regulator is seeking a formal judicial outcome to prevent what it views as ongoing breaches.

Blocking and consumer warnings

As part of its enforcement strategy, the FCA has also taken steps to limit HTX's reach within the UK market. The regulator has asked social media companies to block HTX's accounts from UK users and has requested the removal of HTX's mobile applications from the Google Play and Apple App stores accessed by UK residents. Those moves reflect a broader approach to protecting consumers. If unregulated entities promote unvetted services widely on platforms where UK investors spend time, the risk of harm increases. By requesting removal and blocking, the FCA is trying to cut off the promotional pipeline at its source.

In addition, the FCA has placed HTX on its Warning List, a public register of firms and individuals that are not authorised by the regulator and are therefore considered potentially risky for UK consumers. Anyone who deals with an entity on the Warning List does so without the benefit of UK investor protection schemes, including compensation mechanisms. Putting HTX on that list is a clear signal. It tells potential users that their rights and recourse are limited if things go wrong. For consumers, that is an important layer of transparency for the exchange and it is a reputational headwind.

The FCA's actions align with a growing emphasis in the UK on tightening how crypto companies talk to potential customers. While many parts of the financial sector have long been subject to detailed advertising and disclosure requirements, the rapid rise of crypto and its marketing on social platforms created gaps that regulators have been working to close. By targeting a well-known exchange like HTX, even when based abroad, the FCA appears intent on making an example of businesses that engage UK audiences without meeting local rules.

The broader context of crypto promotion regulation

Crypto promotion has been a contentious area globally. Digital asset firms often use social media, influencer partnerships and unregulated channels to reach retail audiences quickly. But regulators have increasingly pushed back, citing concerns that investors may not fully understand the risks of volatile or speculative products. In the UK, the FinProm regime was a significant upgrade from previous rules because it brought many online channels squarely under the regulatory perimeter. The FCA treated advertising on social platforms the same as traditional ads meaning claims must be transparent, balanced, and accompanied by appropriate warnings.

Other jurisdictions have taken similar approaches. In the European Union, draft regulations under MiCA propose detailed standards for crypto service providers' disclosures. In the United States, state and federal agencies have similarly taken action against unauthorised marketing. The common thread is concern over consumer harm where ads make promises or imply safety that doesn't exist. For HTX, the FCA's court action amplifies that trend. By reaching into the Chancery Division of the High Court and seeking permission to serve the case internationally, the regulator is asserting that geographic location does not exempt a firm from following UK rules if it actively targets UK users.

Closing Thoughts 

HTX and Other exchanges and platforms that use global social media channels to promote products may need to review their practices carefully. An enforcement decision here could clarify how strictly financial promotion rules apply to digital advertising and what steps firms must take to be compliant. At its heart, If a company invites UK consumers to use its services, it must meet UK standards for clarity, transparency and investor protection. Otherwise, the regulator is prepared to take the matter to court.

READ MORE: DeFi’s Privacy Crisis: How COTI Could Be the Answer to a $1 Billion Problem