HTX Ends UK Activity as FCA Secures Court Undertakings on Crypto Promotions

TL;DR: The FCA says HTX is no longer active in the UK following a settlement over financial promotions. The agreement does not constitute an admission of wrongdoing. The Financial Conduct Authority says HTX has ceased UK activity after a settlement in litigation over cryptoasset promotions. The October 29 announcement describes restrictions on attracting new UK users and accepting deposits, with existing customers directed to the exchange’s official arrangements for residual assets. The outcome shows why an exchange’s global availability and its ability to serve a particular jurisdiction need to be assessed separately. The settlement changes the customer relationship In its announcement, the FCA said it had secured High Court undertakings that HTX would not knowingly promote cryptoasset services unlawfully to UK consumers. New UK customers cannot register, and deposits are no longer available. The regulator said HTX would not target, solicit or actively seek UK consumers. It also made clear that the settlement does not constitute an admission of liability or wrongdoing by Huobi Global or another person or entity. That qualification matters. A negotiated restriction and an admission...