HTX settles FCA case with UK restrictions through 2031

The Financial Conduct Authority has secured a High Court settlement with Huobi Global S.A., the company behind HTX, restricting unlawful financial promotions to UK consumers and formalizing the exchange’s exit from the UK market. The FCA said on October 29 that HTX is no longer active in the UK. Customers cannot deposit funds, and new users cannot register. The exchange also must not target, solicit or actively seek to engage UK consumers. Under undertakings recorded in a High Court order, Huobi Global must not knowingly communicate, or cause others to communicate, financial promotions that breach section 21 of the Financial Services and Markets Act 2000. The restrictions cover HTX’s website, related websites, applications and social media channels, including communications made through officers or agents. The undertakings run until October 21, 2031. The settlement agreement, signed on October 16, remains confidential. The court order, dated October 27, records the agreement and allows either party to seek enforcement. The FCA said the settlement is not an admission of liability or wrongdoing by Huobi Global or any other person or entity. The FCA said HTX repeatedly failed to...