Britain’s Financial Conduct Authority (FCA) has launched civil proceedings in a London High Court against several entities that form part of crypto exchange HTX, alleging the platform unlawfully promoted cryptoasset services to U.K. consumers in breach of the country’s financial promotions regime.
The FCA said the action is part of its effort “to protect consumers and uphold the integrity of U.K. financial markets,” Bloomberg reported. Previously, the regulator warned UK consumers against using HTX, which operates under the former Huobi brand in some markets.
HTX is publicly linked to Tron founder Justin Sun, who serves as an adviser. The Tron founder is also one of the largest holders of TRUMP, the official memecoin affiliated with U.S. President Donald Trump.
It’s unclear whether or not Sun is listed as a defendant in the filing. The watchdog did not disclose further details in its statement, and HTX did not immediately respond to The Block’s request for comment.
Regulators have been wary of unregulated crypto promotions in Britain. The FCA issued broad guidance and consumer warnings last year about the risks associated with crypto products.
At the same time, it has proposed updates to bring more firms under full UK oversight, a policy push that is expected to culminate in a final framework next year.
Separately, the UK government and regulators have been preparing structures to expand permissible crypto activity, including plans to appoint a “digital markets champion” and recently opening access to approved bitcoin and ether ETPs — changes that have accelerated a debate about how to bring venues into compliance.
© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
