HTX closes UK deposits and sign-ups after FCA settlement

Crypto exchange HTX, formerly Huobi, has left the UK market following a settlement with the Financial Conduct Authority announced on 29 October. The regulator says UK customers can no longer deposit funds and new users in the country cannot open accounts. HTX has also agreed not to seek out UK customers through its promotions.

The FCA notice does not set a single withdrawal deadline or say every residual balance has been returned. Instead, it directs existing UK customers to HTX's own withdrawal arrangements. The distinction matters: a halt to new deposits does not itself confirm that all existing accounts have been closed or that their assets have been paid out.

The High Court undertakings prevent HTX from knowingly making unlawful crypto financial promotions to UK consumers, including through its website, apps and social media. This is a court-backed restriction on marketing activity, not a published finding of criminal guilt. The FCA says the settlement terms are confidential and the agreement is not an admission of liability or wrongdoing by Huobi Global or anyone else.

The proceedings began on 21 October 2025, were publicly announced by the FCA in February 2026 and ended with the October 2026 settlement. Reuters independently reported the agreement and HTX's response that it had changed its practices to meet UK financial-promotion requirements. Those promotion rules were already in force; they are separate from the broader UK crypto authorisation regime scheduled for October 2027.