Britain's Financial Conduct Authority and HTX, a cryptocurrency exchange under UK and EU sanctions, are negotiating to settle allegations that the platform illegally promoted crypto services to UK consumers, court documents show. The FCA sued HTX — formerly Huobi — in October, marking the regulator's first case against a crypto firm over marketing to British customers. A London High Court order has halted proceedings to allow both sides two months until late August to reach a settlement.

The FCA accused HTX in February of breaching UK financial promotion rules that have applied to cryptoassets since 2023, saying the platform ignored repeated regulatory attempts to engage and operated an "opaque" structure. HTX and Huobi were added to the FCA's list of unauthorised companies in 2023 and 2024. Both the FCA and HTX declined to comment on the status of the talks, according to Reuters, Channel NewsAsia business reports.