UK FCA and HTX in settlement talks over illegal crypto promotions

The UK’s Financial Conduct Authority (FCA) and the HTX (formerly Huobi) exchange have started talks to settle a lawsuit that accuses the Justin Sun-backed platform of illegally marketing crypto to UK consumers, according to court filings on Thursday.

HTX lawsuit first of its kind

The lawsuit that dragged HTX to London’s High Court in October 2025 was something the FCA had never done before. The regulator was suing a crypto firm over how it marketed services to British consumers.

The target of the lawsuit, HTX, known as Huobi until a rebrand, ranks among the largest crypto exchanges in the world. Justin Sun, the Chinese billionaire behind the Tron blockchain and cryptocurrency, took a controlling stake in the exchange in 2022.

The FCA’s suit named Huobi Global, incorporated in Panama, alongside “persons unknown” said to operate and control the exchange.

The regulator outlined its frustrations about the “reach” of global platforms in the lawsuit. These platforms can sit behind tangled corporate structures and still put marketing ads in front of UK users via the internet.

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