Key Points
- The cryptocurrency platform HTX, previously operating as Huobi, has withdrawn from the British market following resolution of FCA allegations regarding unlawful promotional activity.
- British residents are now barred from depositing funds, executing trades, or creating new accounts on the platform.
- Qualified customers must actively request a limited 48-hour period to retrieve their holdings.
- Huobi Global has accepted High Court commitments extending through October 21, 2031.
- The agreement remains confidential and contains no acknowledgment of liability.
The cryptocurrency trading platform HTX has completed its departure from the United Kingdom following a resolution with the Financial Conduct Authority. The dispute centered on the manner in which the platform, which previously operated under the Huobi brand, marketed its offerings to British consumers.
The FCA announced the resolution on October 29, 2026. The financial watchdog confirmed that HTX has ceased operations within the jurisdiction and will refrain from targeting, soliciting, or actively pursuing British consumers.
British customers have lost the ability to deposit funds or execute trades on the service. Additionally, new account registration for UK residents has been disabled.
Steps Required for British Account Holders
According to HTX’s notification to UK customers, accounts flagged as belonging to UK residents cannot conduct transactions across the platform’s product range. Qualified individuals maintaining balances must reach out to customer service to arrange a single 48-hour withdrawal period.
This access window is not granted automatically. Approval depends on compliance with the relevant Personal Remittances General Licence terms, combined with HTX’s verification procedures covering identity, ownership, sanctions screening, anti-money laundering protocols, fraud prevention, and account security requirements.
Authorized customers must personally execute withdrawals of their remaining holdings within the 48-hour timeframe. They may initiate transactions for various asset classes, though each submission faces wallet, blockchain, and security validations.
HTX has stated it will not execute asset transfers on customers’ behalf. Accounts face closure following complete asset withdrawal.
The advisory instructs affected customers to send requests to htxsupport@htx-inc.com using their registered email addresses and verify personal usage. Additional reporting obligations to HM Treasury or other governmental bodies may be applicable.
High Court Commitments Extended Through 2031
A High Court ruling dated October 27 documents commitments from Huobi Global S.A. remaining in force until October 21, 2031. These commitments prohibit the entity from knowingly transmitting, or enabling others to transmit, financial promotions violating section 21 of the Financial Services and Markets Act 2000.
The commitments encompass HTX’s web properties, mobile applications, and social media presence. The 2031 deadline applies exclusively to these obligations and does not establish any timeline for potential resumption of UK trading operations.
The FCA indicated the resolution details remain confidential. The regulator emphasized the agreement includes no acknowledgment of liability or misconduct by Huobi Global or any associated parties.
Additional legal proceedings in the matter remain suspended except for enforcement purposes. Either party retains the right to petition the court for enforcement without initiating fresh legal action.
The FCA initiated formal legal proceedings on October 21, 2025, and made the action public on February 10, 2026. The regulator characterized the case as its inaugural enforcement action against a cryptocurrency entity for unlawfully promoting products to British consumers.
The watchdog stated HTX had consistently declined to cooperate with regulatory inquiries. It additionally requested social media platforms to restrict HTX accounts for UK users and pursued removal of the exchange’s applications from UK versions of Google Play and Apple’s App Store.
HTX appeared on the FCA’s warning registry in October 2023. Separately, in May 2026, the UK government added Huobi Global S.A. to its Russia sanctions designation list, which operates independently from the promotional violations case.
Steve Smart, executive director of enforcement and market oversight at the FCA, emphasized that foreign incorporation “does not put them beyond the reach of UK law.” He continued, “The message to other firms is clear: follow the rules or face the consequences.”
The FCA is encouraging consumers to verify a firm’s authorization status through its Firm Checker resource. The regulator also reiterated its position that cryptoassets represent high-risk investments.
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