FCA sues crypto exchange HTX for unlawful promotions in UK

The FCA has filed a lawsuit against global crypto exchange HTX, which it has accused of unlawfully promoting crypto asset services to UK consumers.

HTX – formerly known as Huobi Global – is advised by Chinese entrepreneur Justin Sun.

The UK regulator said on Wednesday (22 October) it had launched civil proceedings in London's High Court against HTX, for breaching the UK’s financial promotions regime, Reuters reports.

The lawsuit follows a warning issued by the FCA earlier this month, stating HTX is not authorised to operate in the UK.

“This firm may be promoting financial services or products without our permission. You should avoid dealing with this firm,” the regulator.