FCA secures High Court undertakings from HTX over crypto promotions

The Financial Conduct Authority (FCA) announced on 29 October 2026 at 11:00 Paris time (10:00 GMT) that it had secured undertakings before the High Court from Huobi Global S.A., the company that operates the crypto exchange HTX, formerly known as Huobi. According to the FCA, HTX will no longer knowingly communicate unlawful promotions of crypto services to UK consumers. The case ends with a settlement whose terms are confidential and which, the regulator states, does not amount to an admission of liability or wrongdoing by Huobi Global or anyone else.

The scope of the undertakings

According to the FCA, Huobi Global S.A. was the first defendant in the proceedings. The undertakings apply to any financial promotion that contravenes section 21 of the Financial Services and Markets Act 2000, whether communicated directly or indirectly, and cover HTX's website, its apps and its social media channels.

Several outlets add details drawn from the court order itself. According to crypto.news, Blockonomi, Coin Edition and DEV Community, the undertakings are contained in a High Court order dated 27 October 2026, made by Deputy Master Holden; DEV Community describes it as a Tomlin order. The schedule to the order, as cited by crypto.news and DEV Community, lists X, Facebook, Instagram, Telegram, TikTok, YouTube, Discord, Medium and LinkedIn. Cointelegraph, crypto.news, Blockonomi and Coin Edition report that the undertakings remain in force until 21 October 2031. That date concerns only the promotion undertakings and does not set any timetable for a possible return of HTX to the UK market. According to crypto.news, Blockonomi and the UEEx blog, the rest of the proceedings is stayed except for the purpose of enforcing the settlement.

Whether the settlement includes a fine or any payment has not been disclosed. According to Cointelegraph, Cryptopolitan and Coin Edition, Huobi Global S.A. is registered in Panama.

A case opened in October 2025

The FCA states that it launched the proceedings on 21 October 2025 in the Business and Property Division of the High Court and made them public on 10 February 2026. At that time, the regulator presented the case as its first legal action against a crypto firm over unlawful promotions to UK consumers, as reported by Blockonomi, Coinpaprika, Crypto Economy and Bcointalk. According to the FCA, HTX repeatedly failed to respond to its approaches, and the platform took steps to leave the UK after the proceedings were launched.

"Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law," said Steve Smart, executive director of enforcement and market oversight at the FCA. "The message to other firms is clear: follow the rules or face the consequences."

The UK crypto promotions regime has applied since October 2023, on 8 October 2023 according to Coin Edition, including to firms based abroad that target UK consumers. HTX appears on the FCA Warning List of unauthorised firms; Blockonomi dates its inclusion to October 2023. The FCA notes that crypto remains largely unregulated in the UK until October 2027, apart from anti-money laundering requirements and the financial promotions rules.

HTX's exit and the 48-hour withdrawal window

According to the FCA, HTX is no longer active in the UK: consumers can no longer make deposits, no new UK users can sign up, and HTX will no longer seek to target or solicit UK consumers. The regulator invites UK users to read the information published on HTX's website about the availability of its services in the UK and the withdrawal of remaining assets.

According to HTX's notice, as reported by Blockonomi, crypto.news and Bcointalk, UK accounts can no longer deposit or trade. Eligible users who still hold assets can request a one-time 48-hour withdrawal window, granted after validation and compliance checks, and accounts are closed once the assets have been withdrawn. Accounts in Cryptopolitan suggest instead that all users would have 48 hours in total to withdraw. No deadline for submitting a request has been specified.

What it means for traders

• Remaining balances: UK clients still holding assets on HTX would have to go through the exchange's support to obtain the withdrawal window, which, according to the reported notice, is not automatic and depends on compliance checks.
• Limited recourse: for a platform listed as unauthorised, the options available to UK users in the event of a dispute could prove limited.
• Advertising on social media: a crypto promotion seen on X, TikTok, Telegram or YouTube from an unregistered overseas platform could be unlawful in the UK, since the regime also reaches firms based abroad.
• Checks before opening an account: the FCA points users to its Firm Checker to verify a firm's authorisations, alongside the Warning List.

For those engaged in crypto trading from the UK, the case would above all signal that the promotions rules are enforced against offshore exchanges during a period in which, according to the FCA, the wider crypto sector remains largely outside its regulatory perimeter until October 2027.