HTX halts UK crypto promotions until 2031 after FCA settlement

The exchange formerly known as Huobi has agreed to binding court undertakings that keep its marketing out of Britain until October 2031 HTX has agreed to stop marketing its crypto services to UK consumers until October 2031. The pledge comes under a settlement the Financial Conduct Authority (FCA) announced Thursday. The exchange, formerly known as Huobi, has already shut its UK front door. According to the FCA, HTX no longer accepts deposits from UK customers or lets new users in the country open accounts. The British regulator spent more than two years flagging HTX before taking it to court. The result is a near six-year marketing exile, enforced by a judge. What the settlement actually does The deal centers on unlawful financial promotions. Under UK rules, firms need the proper authorization before they can pitch financial products to the British public. The FCA’s case was that HTX kept advertising to UK consumers without that authorization. Rather than fight the case to a verdict, the two sides settled. The agreement was formalized through a High Court Tomlin Order. That is a type of court order that ends litigation on terms both parties have agreed to, with the court able to e...