UK Regulator Moves to Block Crypto Exchange HTX from Social Media and App Stores

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Britain’s Financial Conduct Authority announced on Tuesday it has taken a significant step to bar crypto exchange HTX from promoting its services in the United Kingdom.

The regulator stated it has formally requested that social media companies and app store operators block access to HTX for UK-based consumers.

This action, intended to prevent the group from marketing what it calls “illegal” crypto asset services, involves asking Alphabet’s Google and Apple to remove HTX applications from their UK app stores and to block the exchange’s social media accounts from reaching UK users.

The FCA, which initially filed a lawsuit against HTX in the London High Court last October, is escalating its enforcement.

This move represents the first instance of the FCA taking such direct action against a crypto firm for illegally marketing its products to consumers within the UK. For years, regulators and authorities globally have cautioned that nascent crypto markets, which typically operate under less stringent oversight than traditional financial markets, pose considerable risks to investors.