UK's FCA Sues Crypto Exchange HTX for Unlawful Promotion of Digital Assets
The UK's FCA is suing crypto exchange HTX in the High Court for unlawfully promoting digital asset services without authorization.Summary
The U.K.'s Financial Conduct Authority (FCA) has initiated legal proceedings in the High Court against the cryptocurrency exchange HTX (formerly Huobi) for the unlawful promotion of digital asset services within the country. The FCA stated this action is part of its commitment to consumer protection and maintaining the integrity of U.K. financial markets. The regulator had previously issued warnings dating back to 2023 that the exchange, which was acquired by Tron founder Justin Sun in 2022, might be promoting financial services without proper authorization, advising consumers to avoid dealing with Huobi at that time. The FCA emphasized that while many crypto firms comply with financial promotions rules, it will take action against those breaching regulations.
(Source：CoinDesk)