FCA in settlement talks with HTX over illegal cryptocurrency promotions targeting UK customers.
Regulation & Gov ·
Britain's Financial Conduct Authority and HTX are negotiating a settlement over allegations that the exchange illegally promoted cryptocurrency services to UK consumers, with High Court proceedings paused until late August to allow talks to continue. The FCA's October enforcement action—its first against a crypto exchange over marketing—was grounded partly on an employee test purchase from a UK IP address using a driving license, which successfully executed both peer-to-peer and futures trades on the platform. The regulator is seeking an injunction and a declaration that defendants breached financial promotion rules under the Financial Services and Markets Act.