The UK’s financial watchdog sued the Panama-based HTX exchange and certain people whose names are not known for continuing to promote illegal crypto on social media even after being warned.
The UK’s financial authority has taken HTX, a cryptocurrency exchange, to court for breaking financial advertising regulations by illegally promoting crypto asset services to British clients.
The UK Financial Conduct Authority (FCA) revealed in October 2025 that it has started legal action against HTX and a number of other people connected to it in the Chancery Division of the High Court.
On Tuesday, the regulator stated in an update that it had received authorisation on February 4 to serve the case outside of the UK and by other means. It also said that HTX (previously known as Huobi Global) is based in Panama.
The FCA’s Financial Promotions (FinProm) Regime, which it put in place in October 2023, made it harder for crypto companies to offer their services to UK consumers.
Financial promotions rules and prior warnings
The regulator added, Companies that sell crypto products to UK consumers must follow rules that protect consumers from unfair and misleading marketing. It further said that it is against the law to advertise crypto assets on social media or websites without following these standards.
The statement went on to say that the FCA has already cautioned HTX about promoting crypto services to UK customers in an improper way.
The authorities added, it has continued to publish financial promotions on its website and on social media platforms, including TikTok, X, Facebook, Instagram, and YouTube, in violation of these rules.
Continued violations and enforcement response
Steve Smart, the FCA’s joint executive director of enforcement and market monitoring, stated, Our rules are meant to help create a sustainable and competitive crypto market in the UK, making sure that consumers have what they need to make smart choices.
HTX’s behaviour is very different from that of other companies who are trying to follow the FCA’s rules. This is the first time we’ve taken action against a crypto company that was illegally marketing its goods to UK consumers.
The FCA also asked social media providers to prohibit UK-based users from accessing HTX’s accounts. They also asked Google Play and Apple Stores in the UK to remove HTX apps.
The regulator has also put the company on its Warning List, which tells people that the UK government won’t help them if they have a problem with HTX.