The Financial Conduct Authority announced a High Court agreement resolving legal action it launched against HTX last October. Under the settlement, the trading platform agreed to stop knowingly promoting cryptoasset services unlawfully to United Kingdom customers. HTX, formerly known as Huobi, ranks among the largest cryptocurrency exchanges globally. The company saw Chinese billionaire Justin Sun acquire a controlling stake in the business in 2022.
Key points
HTX agreed to cease knowingly promoting cryptoasset services unlawfully to consumers acro…: HTX agreed to cease knowingly promoting cryptoasset services unlawfully to consumers across the United Kingdom.
The platform is barred from actively targeting, soliciting, or seeking to engage customer…: The platform is barred from actively targeting, soliciting, or seeking to engage customers in the British market.
The formal agreement successfully concludes legal proceedings against the major cryptocur…: The formal agreement successfully concludes legal proceedings against the major cryptocurrency exchange formerly known as Huobi.
Sources checked by our analysis pipeline: 1
LONDON, Oct 29 : Britain's financial regulator has secured a High Court agreement that HTX, a cryptocurrency exchange, will not knowingly promote cryptoasset services unlawfully to UK customers, the watchdog said on Thursday.
The Financial Conduct Authority last October sued HTX — formerly known as Huobi — one of the world's largest crypto platforms, in which Chinese billionaire Justin Sun bought a controlling stake in 2022.
The FCA said it had reached an agreement with Huobi Global under which HTX would not target, solicit or actively seek to engage UK consumers.
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