Crypto exchange HTX is leaving the United Kingdom after settling a High Court lawsuit brought by the Financial Conduct Authority over illegal crypto promotions, securing undertakings that the exchange will no longer target or solicit UK consumers, the regulator said on Thursday in a press release.

The FCA said it had secured undertakings in the High Court that HTX, formerly known as Huobi, will not knowingly promote crypto services unlawfully to UK consumers. Huobi Global S.A., the Panama-registered company named as the first defendant, has undertaken not to communicate financial promotions in breach of UK law across HTX's website, apps and social media, according to the court order. Undertakings given to the High Court are legally binding, enforceable commitments rather than voluntary pledges.

The practical effect is a full withdrawal from the British market. The exchange, which names Tron founder Justin Sun as a global adviser, is no longer active in the UK, the regulator said. UK consumers can no longer make deposits, and new UK users cannot sign up. Existing UK customers are blocked from trading and have 48 hours to withdraw their assets before their accounts are closed, the exchange said on its website.

"Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law," said Steve Smart, the FCA's executive director of enforcement and market oversight. "The message to other firms is clear: follow the rules or face the consequences."

HTX said it had "proactively implemented measures to align with the UK's financial promotion regulations," the Financial Times reported.

The terms of the settlement are confidential and do not amount to an admission of liability or wrongdoing, the FCA said. It is not known whether the confidential terms include a financial penalty.

The regulator began proceedings against HTX in October 2025, its first enforcement case against a crypto firm under the UK's financial promotion rules, saying the exchange had repeatedly failed to engage with it. The two sides began settlement talks in March, which were extended in June, according to court orders reported by Reuters.

The UK's financial promotion regime for cryptoassets, in force since October 2023, requires firms marketing digital assets to British consumers to comply with FCA standards, including ensuring promotions are fair, clear and not misleading. The rules brought crypto marketing under FCA oversight for the first time. Huobi rebranded as HTX in 2023.

The settlement is the latest development in a series of regulatory actions involving the exchange. In May, the UK sanctioned Huobi Global S.A. over alleged support for Russia's financial sector, with the government's notice listing HTX as another name for the designated entity. Two months later, the European Union named Huobi Global in its 21st package of Russia sanctions, accusing it of "significantly frustrating" the bloc's measures and barring EU transactions with the exchange, though stopping short of a full asset freeze. HTX has said Huobi Global S.A. is "distinct from the online HTX exchange."

With the undertakings secured, the FCA's first enforcement case against a crypto firm under the financial promotion rules has been resolved through settlement.