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UK Regulator Sues Crypto Exchange HTX Over Unlawful Promotions

By  |  October 22, 2025

Britain’s financial watchdog has taken legal action against HTX, a global cryptocurrency exchange advised by Chinese entrepreneur Justin Sun, accusing the company of illegally promoting crypto services to UK consumers.

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    According to Reuters, the Financial Conduct Authority (FCA) said it filed a civil lawsuit in London’s High Court on Wednesday, alleging that HTX—formerly known as Huobi—violated Britain’s financial promotions regime. The regulator emphasized that HTX is not authorized to operate in the country, as shown on the FCA’s official website.

    “This action is part of our commitment to protect consumers and uphold the integrity of UK financial markets,” an FCA spokesperson said, while declining to provide additional details. Representatives for HTX did not immediately respond to requests for comment, per Reuters.

    Related: SEC Chair Promises ‘New Day’ For Crypto Assets at Blockchain Symposium

    HTX, founded in 2013, lists Justin Sun as one of its global advisers. Sun, who has become a well-known figure in the cryptocurrency world, is also a major supporter of World Liberty Financial, a crypto venture linked to the Trump family. According to Reuters, Sun reportedly invested around $75 million in the project’s tokens. Blockchain analysts have also identified a wallet labelled “SUN” as belonging to HTX, making it the largest holder of U.S. President Donald Trump’s “$TRUMP” memecoin.

    The FCA has sought to tighten oversight of the cryptocurrency sector, aiming to build a competitive but secure market. In 2023, it introduced new rules requiring crypto firms to obtain proper authorizations and register under money-laundering regulations. However, HTX remains on the FCA’s warning list, which cautions consumers against dealing with unregistered firms.

    Source: Reuters