Overview
- The FCA and HTX are in active settlement talks and London’s High Court has halted the regulator’s case until late August to give both sides time to negotiate, a status confirmed by court filings reported on Aug. 13.
- The legal action began when the FCA filed suit on Oct. 21, 2025, in the Chancery Division, marking the regulator’s first court case targeting a crypto exchange for allegedly marketing services to UK consumers without authorization.
- In its particulars the FCA says it proved UK access by making a test purchase from a UK IP address and trading after verifying identity with a UK driving licence, and it seeks an injunction under section 21 of the Financial Services and Markets Act.
- Separate UK and EU sanctions, imposed in May and July 2026 respectively, have added operational pressure on HTX through asset freezes and wider checks that have led some platforms to flag wallets with prior HTX exposure.
- A settlement could set practical limits on how the FCA forces compliance from offshore crypto platforms and affect users and service providers through measures such as app-store removals, social‑media blocking and tighter wallet screening.