The UK Financial Conduct Authority (FCA) has launched a civil case against HTX in the London High Court, alleging unlawful promotion of cryptoassets to UK consumers. The regulator says HTX advertised without required permissions under rules introduced in 2023, signaling that these standards will be enforced. The case focuses on UK users and highlights how approval and registration obligations apply to crypto promotions.
The FCA filed the claim on 22 Oct 2025 in the London High Court, stating that the platform promoted digital assets to people in the UK without the permission the law demands. The action covers UK users and is positioned as a test of the post-2023 regime.
The FCA states that HTX, formerly known as Huobi and renamed in 2023, broke UK promotion rules by advertising to UK customers while holding no licence. Under the 2023 framework, every advert or offer for financial products aimed at UK consumers must obtain clear prior approval, designed both to curb false claims and to shield retail investors.
The claim names “Huobi Global” and four “persons unknown”, wording that seeks to attribute responsibility beyond the company itself. The filing says HTX lacks UK permission to run regulated business and appears on the FCA public warning list. It rests on 2023 rules that require both promotion approval and anti-money-laundering registration for any party advertising cryptoassets in the UK.
Market impact from FCA case
The claim immediately affects the UK crypto sector and may shape future conduct. For HTX, there is legal and operational risk, with the FCA warning of large fines, heavy legal bills, and potential court orders that bar further UK promotion. Reputation and trust are also at stake, as a public warning can undermine UK customer confidence and limit market access. More broadly, the move signals that the 2023 rules must be obeyed, likely pushing other exchanges to review adverts and seek legal advice.
As a regulatory precedent, the “persons unknown” approach widens potential personal liability for executives and promoters. Public data show HTX held high market ranks in recent quarters, so any fallout could hurt both its name and revenue.
The London High Court will set the timetable after formal replies, and the FCA maintains that this action shows the 2023 rules are in force. The regulator warns all market participants to secure proper approval before addressing UK consumers as the case proceeds.
