The Financial Conduct Authority and crypto exchange HTX are in settlement negotiations over unlawful promotion of crypto services to UK consumers, with High Court proceedings paused until late August, according to court documents dated August 13.
The FCA sued HTX in October 2025, alleging the exchange ran illegal financial promotions across TikTok, X, Facebook, Instagram, and YouTube targeting UK residents without proper authorization. The enforcement action comes as the regulator pursues major crypto platforms over social media marketing practices.
HTX, formerly known as Huobi, is one of the world's largest crypto exchanges by trading volume. The platform operates from multiple jurisdictions including Hong Kong and Singapore, but the FCA's mandate covers any entity marketing financial services to UK consumers regardless of headquarters location. The regulator has moved against crypto platforms operating without authorization in the UK through both civil enforcement and criminal referral.
The October lawsuit detailed specific promotional content posted by HTX accounts that the FCA said constituted financial promotions under UK law. Those rules require any promotion of investment products, exchange services, or lending products to carry clear risk warnings and be approved by an authorized firm. The FCA alleged HTX's social media campaigns lacked these disclosures.
The pause in High Court proceedings until late August indicates both parties view settlement as possible. Settlement talks do not guarantee a deal; either party can resume litigation if negotiations stall. No settlement amount or terms have been disclosed.
The FCA has targeted multiple crypto platforms for unauthorized promotions, including cases against Bybit and other exchanges. UK regulators have also moved to restrict crypto advertising on public transport and online platforms more broadly.
If settlement talks advance through late August without public disclosure of terms, the next visible step would be a filing to the High Court updating the proceeding status. The document to watch is any court filing after late August showing either a settlement agreement or a resumption of litigation.
