FCA and HTX settle illegal cryptoasset promotions case, HTX exits the UK
FCA settles HTX case, exchange quits UK on secret terms
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FCA and HTX have reached a settlement over HTX's illegal cryptoasset promotions in the UK. HTX will exit the UK market; UK users can no longer make deposits, and new users are prohibited from registering. HTX made legally binding commitments through a Tomlin order, with the relevant terms remaining in effect until 21 October 2031, but the settlement does not represent an admission of liability or wrongdoing. Existing UK users may receive a one-time 48-hour window to withdraw their remaining assets after approval and passing compliance checks.
The case sets out how the UK's financial promotion rules apply to overseas crypto platforms, as well as the term of HTX's legal commitments, which run until 2031.
Source:Cryptopolitan · cryptopolitan.com