The UK’s financial watchdog has sued crypto exchange HTX, alleging it unlawfully promoted digital asset services to British
consumers. The move marks the latest step in the Financial
Conduct Authority’s effort to bring global crypto operators under tighter
oversight as the UK refines its digital asset rules.

Digital assets meet tradfi in London at the fmls25

Regulator Moves to Enforce Crypto Advertising Rules

The FCA confirmed it had filed civil proceedings in
London’s High Court against HTX, formerly known as Huobi, for violating
Britain’s financial promotions regime, Bloomberg reported. The regulator said HTX was not
authorized to operate in the country and appeared on its public warning list.

Founded in 2013, HTX lists Chinese entrepreneur Justin
Sun as its global adviser. Sun, a long-time figure in the crypto sector, has
drawn attention for his role in several ventures, including the Trump family’s
crypto initiative, World Liberty Financial. Reports suggest he has invested
around $75 million in the project’s tokens.

The FCA introduced stricter promotion rules in 2023 to
ensure that crypto-related marketing is “clear, fair, and not misleading.”
Firms offering or promoting crypto products to UK consumers must now register
under anti-money laundering regulations and obtain relevant authorizations.

The UK’s Push for a Regulated Crypto Market

The case names Huobi Global alongside four
unidentified individuals described as “persons unknown,” covering the
exchange’s owners, operators, and heads of promotions.

As the lawsuit proceeds, it underscores the FCA’s
growing willingness to use the courts to enforce compliance — a signal to
offshore crypto firms that the UK market can no longer be treated as a grey
area.

Expect ongoing updates as this story evolves.

This article was written by Jared Kirui at www.financemagnates.com.



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