UK Regulator Seeks to Block Crypto Exchange HTX From Social Media
On Friday, February 10, 2026, Reuters reported that Britain’s Financial Conduct Authority (FCA) is taking action to block access to the crypto exchange HTX within the United Kingdom. The FCA has requested social media companies and app stores to prevent UK users from accessing HTX, escalating efforts to stop the firm from promoting what the regulator deems “illegal” crypto asset services.
The FCA’s actions follow a lawsuit filed in the London High Court last October against HTX. The regulator is seeking to have Alphabet’s Google and Apple remove HTX products from their respective app stores and block HTX’s social media accounts for consumers in the UK.
Regulators and authorities worldwide have been warning for years about the risks associated with nascent crypto markets, which are generally less regulated than mainstream financial markets. The FCA enforcement action marks its first move against a crypto firm for allegedly marketing its products illegally to UK consumers. HTX, previously known as Huobi, has not commented on the matter.
According to the FCA, crypto companies wishing to attract British customers must register with the FCA and comply with anti-money laundering and financial crime checks under UK rules. Both HTX and Huobi are on an FCA list of unauthorized companies, cautioning consumers against dealing with them.
The FCA stated that HTX had repeatedly advertised illegal crypto promotions to British consumers on social media platforms, including TikTok, X, Facebook, Instagram, and YouTube. Examples cited by the FCA include HTX’s website tutorials on trading, such as “buy Bitcoin in a minute” and “learn spot trading in seconds,” as well as crypto loans accompanied by a flame emoji and phrases like “borrow and repay any time for flexible trading” and “borrow to scale up your trades and profits.”
Steve Smart, the FCA’s joint head of enforcement and market oversight, noted that HTX’s conduct stands in stark contrast to the majority of firms working to comply with the FCA’s regime. While HTX has taken steps to prevent new UK customers from registering accounts, existing UK users can still access unlawful financial promotions.
The FCA’s lawsuit is filed against Panama-incorporated Huobi Global and “persons unknown.” Nick Barnard, a partner at law firm Corker Binning, said the case highlights the difficulty of regulating the crypto asset industry from one jurisdiction, as the FCA could not take direct action due to the absence of any physical HTX presence in the UK.
HTX was founded in 2013 and lists Chinese crypto entrepreneur Justin Sun as a global advisor, though Sun was not named in the lawsuit.
Source: Reuters
