FCA sues HTX for illegal crypto promotion in the UK

The UK Financial Conduct Authority (FCA) has initiated legal proceedings against HTX, accusing the platform of unlawfully promoting digital asset services to consumers in the UK, in violation of marketing regulations effective from October 2023.

The FCA stated that it had previously warned HTX about its advertising activities. After being sued, HTX blocked new users in the UK, but current users can still access content deemed to be in violation. The agency is concerned about the risk of continued violations.

HTX’s Facebook, Instagram, and TikTok accounts have been blocked in the UK, while X and YouTube remain operational. HTX has not responded.

This move comes as the FCA intensifies its crypto oversight, aiming to implement a comprehensive regulatory framework by 2027 and expand its jurisdiction to cover traditional financial activities.