The UK Financial Conduct Authority announced on 29 October that it has secured High Court undertakings from crypto exchange HTX, formerly Huobi. Huobi Global undertakes not to knowingly promote cryptoasset services in breach of section 21 of the Financial Services and Markets Act, through its website, apps and social media channels. The FCA began legal action in October 2025, and HTX has already stopped deposits and new sign-ups from the UK. The settlement terms are confidential and do not amount to an admission of liability.

What it means: The case shows that a national regulator can put effective pressure on an exchange that is not based in its country. The FCA did not impose a fine, but it got what it wanted: the platform's exit from the British market and a court undertaking that can be enforced if broken. In the UK, crypto remains largely outside regulation, except for anti-money laundering rules and the rules on promotions, until the new regime takes effect in October 2027. That is why the FCA uses the promotion rules as its main tool. In the European Union the picture is different, as the MiCA regulation requires a licence to serve EU customers, and national authorities, such as the Hellenic Capital Market Commission in Greece, can act against unlicensed platforms. For users the lesson is practical: before using a platform, check whether it is authorised in their country, because a sudden exit usually comes with short windows for withdrawing funds. Businesses that advertise or partner with such platforms, including influencers and advertising networks, also carry risk.

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