FCA Takes Legal Action Against Crypto Exchange HTX
The regulator claims HTX “unlawfully promoted cryptoasset services to UK consumers” and notes that the platform is not authorised to operate in the UK.
By Abigail Welch · 25 October 2025
The UK’s Financial Conduct Authority (FCA) has launched legal proceedings against cryptocurrency exchange HTX, filing a civil suit in London’s High Court over alleged breaches of the UK’s financial promotions regime.
The regulator claims HTX “unlawfully promoted cryptoasset services to UK consumers” and notes that the platform is not authorised to operate in the UK.
HTX is linked to billionaire Justin Sun, who serves as a “global advisor” to the exchange. Sun has invested approximately $75 million in tokens issued by the Trump family’s World Liberty Financial venture. These acquisitions took place shortly before a US lawsuit against Sun and three of his companies for alleged “wash trading” was temporarily paused earlier this year, according to the Financial Times.
The FCA’s action underscores continued regulatory scrutiny of crypto platforms operating in the UK without authorisation and highlights the risks of engaging with overseas exchanges that target UK consumers.
Related reading
Coinbase Poised to Expand Into Prediction Markets and Tokenised Equities
The new offerings are expected to enable users to trade event-based contracts and gain exposure to blockchain-based representations of publicly listed shares.
Abigail Welch · 16 December 2025
Coinbase Carries Out Major Wallet Migration as Part of Routine Security Measures
According to the company, the migration was not triggered by any cybersecurity incident or external threat.
Andrew Jones · 23 November 2025
dYdX Prepares U.S. Launch as Regulatory Climate Shifts Under Trump Administration
Eddie Zhang, president of dYdX, said the expansion forms a key part of the company’s long-term strategy.
Beth Woods · 1 November 2025
Revolut, Blockchain.com, and Relai Secure MiCA Licenses to Expand Crypto Services Across Europe
Revolut, which serves over 65 million customers, said its MiCA license will allow it to “provide and market its comprehensive crypto-asset services across all 30 markets in the EEA.”
Beth Woods · 29 October 2025