HTX, the crypto exchange controlled by Justin Sun, has left Britain under a High Court deal with the Financial Conduct Authority (FCA). UK customers can no longer deposit funds, and new users cannot sign up.
The deal ends a year-long lawsuit over illegal adverts. However, existing UK account holders still face a bigger problem, getting their money out of an exchange the government already treats as sanctioned.
How UK Users Get Money Out of HTX
The FCA says HTX, formerly Huobi, points remaining UK customers to its website to withdraw leftover assets.
That route runs into sanctions. Britain designated Huobi Global S.A., the Panama company behind HTX, on May 26 over alleged financial links to Russia.
The Treasury’s sanctions unit then said the exchange itself is covered. Its guidance says nothing about customer withdrawals.
In August, BeInCrypto reported a UK user who said their account was frozen pending sanctions permission. The same report found HTX nearing an FCA settlement, which has now landed.
Why the FCA Took an Overseas Exchange to Court
The lawsuit, filed in October 2025, was the FCA’s first High Court case against a foreign crypto firm over UK marketing. The filing counted 4.6 million UK visits to HTX in 2023.
Under an October 27 court order, HTX promised not to knowingly promote crypto to UK consumers.
“Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law,” Steve Smart, FCA executive director of enforcement and market oversight, said.
The terms stay confidential, and the FCA says the deal is no admission of wrongdoing. HTX says it already acted to comply.
“We take local compliance requirements seriously and have proactively implemented measures to align with the UK’s financial promotion regulations,” HTX said in a statement.
What the UK Licence Deadline Means for Offshore Exchanges
Britain’s crypto licensing regime starts in October 2027. Until then, the FCA says crypto stays largely unregulated beyond money-laundering and advertising rules.
Binance, which holds no UK authorisation, plans a UK return with licence before applications close in February 2027. HTX is heading the other way, and its UK customers still have no published sanctions guidance on withdrawals.
