FCA forces HTX to halt UK operations, requiring customers to request withdrawal access

The UK’s financial regulator has forced crypto exchange HTX to cease operations in the country, leaving British customers with a cumbersome process to recover remaining funds. The settlement marks the FCA’s enforcement reach into offshore crypto platforms and signals stricter oversight of cross-border digital asset marketing.

• HTX is no longer active in the UK; existing customers cannot deposit, trade, or open new accounts as of October 29.
• UK account holders must request a one-time, 48-hour withdrawal window via email, subject to FCA approval and compliance checks.
• The exchange faces court undertakings until October 2031 barring unlawful financial promotions to UK consumers across all platforms.

• Oct. 29, 2026 Date the FCA announced HTX’s UK exit following settlement
• 48 hours Maximum window for approved users to withdraw remaining assets
• Oct. 21, 2031 End date for Huobi Global’s undertakings against illegal promotions
• Oct. 21, 2025 Date FCA commenced legal proceedings against HTX

According to reporting by CryptoSlate, crypto exchange HTX has withdrawn from the United Kingdom following a settlement in a high-profile enforcement case brought by the Financial Conduct Authority. The FCA announced on October 29 (Thursday) that the exchange, formerly known as Huobi, is no longer operating in British jurisdiction. UK customers face restrictions on all trading and deposit activity, while those holding residual assets must navigate a conditional withdrawal process to recover their funds.

HTX’s UK operations halted under FCA settlement

The exchange has ceased accepting new UK registrations and has frozen existing account activity for users identified as UK-based.

HTX’s UK service notice states that accounts classified as UK accounts cannot conduct any transactions across the platform’s products and services. The suspension applies to deposits, withdrawals and trading until a customer completes the formal withdrawal request process. No new customer acquisition from the UK is permitted, and HTX will not target or solicit British consumers going forward.

Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law. Our action means HTX is leaving the UK and can no longer target UK consumers.

Steve Smart, executive director of enforcement and market oversight at the FCA

Withdrawal process requires individual approval and identity checks

Eligible UK account holders must contact HTX customer support at htxsupport@htx-inc.com from their registered email address to request a one-time, 48-hour window to withdraw assets. The approval process is conditional on HTX’s completion of identity verification, ownership confirmation, sanctions screening, anti-money laundering checks, fraud assessment and account-security validation, along with compliance with the Personal Remittances General Licence framework.

Each individual withdrawal window requires explicit approval before activation.

Users who receive approval must personally execute withdrawals of their remaining assets within the 48-hour period. HTX will not facilitate asset transfers on behalf of customers and reserves the right to close accounts after full withdrawal is completed. Transactions are subject to destination-wallet, blockchain and security controls on a per-asset basis. Customers may also face reporting obligations to HM Treasury or other relevant authorities.

Court undertakings extend HTX’s compliance obligations through 2031

A High Court order dated October 27 (Tuesday) formalizes Huobi Global S.A.’s undertakings to refrain from knowingly communicating or causing others to communicate financial promotions that breach section 21 of the Financial Services and Markets Act 2000. These restrictions apply to all HTX websites, software applications and social media platforms and remain in force until October 21, 2031. The settlement makes clear that the 2031 date applies to the promotional undertakings only and does not indicate when, or whether, HTX trading might resume in the UK.

The FCA began proceedings on October 21, 2025 and publicly announced its enforcement action on February 10, 2026, describing it as the first case it had brought against a crypto firm for illegal marketing to UK consumers. The FCA also requested that social media platforms block HTX accounts accessible to UK users and sought removal of HTX’s applications from Google Play and Apple’s UK app stores.

The settlement terms remain confidential and involve no admission of liability by Huobi Global or any other entity.

The undertakings represent a narrower remedy than a full prohibition order. Under the court order, further proceedings are stayed except for enforcement actions, meaning either party can seek to enforce the settlement without filing a new claim. A material question left unresolved is whether HTX could re-enter the UK market after the October 2031 undertaking date if it demonstrates compliance with FCA rules, or whether other legal or commercial barriers would prevent such a return.

The BlockWest read. The settlement shows the FCA can reach offshore platforms through civil undertakings rather than criminal prosecution, lowering the enforcement bar against overseas crypto operators. For UK customers, the 48-hour withdrawal window and approval requirement create friction that may benefit HTX’s competitors, but the broader message to the industry is that FCA jurisdiction extends to cross-border marketing activity regardless of server location or corporate domicile.

The FCA has not disclosed whether other crypto exchanges currently operating in the UK face similar investigations for promotional breaches. Customers holding assets on HTX should submit withdrawal requests immediately to htxsupport@htx-inc.com, as the contact method and approval timeline remain the only published pathway to recover funds.

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