UK Financial Regulator Sues Crypto Exchange HTX for Unlawful Promotions

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Britain’s Financial Conduct Authority (FCA) has initiated legal proceedings against the global cryptocurrency exchange HTX, alleging it illegally promoted its services to UK consumers.

The civil lawsuit, filed in London’s High Court, cites breaches of the UK’s financial promotion rules.

An FCA spokesperson stated the action underscores their “commitment to protect consumers and uphold the integrity of UK financial markets.” HTX, which is not authorized to operate in Britain, was formerly known as Huobi and is advised by Chinese entrepreneur Justin Sun.

The exchange and Sun have deep ties to the crypto industry, including significant backing of a Trump-family-linked crypto venture.