FCA Drops the Hammer on HTX: Crypto Chaos in the UK

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The United Kingdom’s Financial Conduct Authority (FCA) has escalated its enforcement action against crypto exchange HTX, accusing the platform of illegally promoting crypto services to British consumers and seeking to restrict its presence across digital platforms in the country.

HTX Faces UK App Store Ban 

On Tuesday, the FCA announced it has formally asked major social media companies and app store operators to block access to HTX in the UK.

It’s asking Google Play and Apple’s App Store to pull HTX’s apps for UK users, and to block the exchange’s social media accounts for British audiences.

The regulator said HTX has repeatedly advertised “illegal crypto services” on popular platforms, including TikTok, X (formerly Twitter), Facebook, Instagram, and YouTube. The FCA maintains these promotions breach UK financial rules governing how crypto products can be marketed to the public.

The FCA also alleged HTX operates through an “opaque corporate structure” that conceals the identities of its owners and those responsible for running its website. The regulator also said that its repeated attempts to engage with the company have gone unanswered.

While HTX has taken some steps since the legal proceedings began-specifically by restricting new UK users from registering for accounts-the FCA said those measures do not go far enough.

The FCA added that HTX has not provided any assurance that its restrictions on new users will be permanent, leaving concerns that breaches could continue.

FCA Signals Tougher Crypto Enforcement

Steve Smart, the FCA’s joint executive director of enforcement and market oversight, said the regulator’s rules are designed to keep a stable, competitive crypto market and ensure consumers can actually understand what they’re buying.

He said HTX’s behavior sharply contrasts with that of most firms trying to comply with the UK’s regulatory framework. Smart noted this is the first time the FCA has taken enforcement action against a crypto firm for illegally marketing its products to UK consumers.

HTX is currently listed on the FCA’s Warning List, meaning consumers who engage with the platform are not eligible for protections such as access to the Financial Ombudsman Service.

Commenting on the case, Nick Barnard, a partner at Corker Binning, said it highlights the difficulty of regulating the crypto industry from a single jurisdiction.

He noted that the FCA’s options are limited when a company has no physical presence in the UK. However, he added that the regulator has likely concluded it must still demonstrate a firm stance against companies that openly flout UK rules.

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2026-02-11 12:21