Britain’s financial regulator has taken a significant step to curb unlawful crypto marketing by asking major technology platforms to block access to the crypto exchange HTX for users in the United Kingdom. The Financial Conduct Authority has requested that social media companies and app store operators restrict HTX’s presence, citing repeated breaches of UK financial promotion rules and a lack of cooperation from the exchange.
The action follows a lawsuit filed by the regulator in the London High Court last year against HTX, formerly known as Huobi. According to the FCA, the exchange continued to promote crypto asset services to UK consumers despite not being registered to operate in the country. Under British law, crypto firms must meet anti money laundering and financial crime standards before marketing services to the public.
The regulator said it had formally asked platforms including Google and Apple to remove HTX related applications from UK app stores. It has also sought to restrict access to the exchange’s social media accounts for UK based users. This marks the first enforcement action of its kind by the FCA against a crypto firm for illegal marketing.
According to the FCA, HTX used platforms such as TikTok, X, Facebook, Instagram and YouTube to advertise trading services, loans and educational content aimed at British consumers. The regulator cited examples including website pages encouraging users to buy Bitcoin quickly and promotional descriptions of crypto loans presented with emotive language and imagery designed to attract retail traders.
Steve Smart, the FCA’s joint head of enforcement and market oversight, said the conduct of HTX stood in stark contrast to firms attempting to comply with the UK regulatory framework. While HTX reportedly took steps to block new UK registrations, the regulator said existing users were still able to access promotions that breached financial advertising rules.
HTX appears on the FCA’s warning list of unauthorised firms, a public register intended to alert consumers to companies operating without approval. The regulator also raised concerns about the exchange’s opaque organisational structure and said it had repeatedly failed to engage constructively with regulatory inquiries. The High Court case is filed against Panama incorporated Huobi Global and unnamed parties.
Legal experts say the case highlights the difficulty of enforcing national rules on globally operating crypto platforms. Without a physical presence in the UK, regulators face limits on direct action. However, restricting access through app stores and social media channels represents a practical way to reduce consumer exposure to unregulated services.
HTX was founded in 2013 and lists Chinese crypto entrepreneur Justin Sun as a global adviser, though he is not named in the legal proceedings. The exchange did not respond publicly to the latest regulatory move.
The FCA’s actions reflect a broader push by UK authorities to bring crypto promotions in line with traditional financial advertising standards, as regulators seek to protect consumers in a market they view as high risk and rapidly evolving.
