UK FCA Initiates Legal Action Against HTX, Alleging Illegal Marketing of Crypto Services

Odaily News: The UK Financial Conduct Authority (FCA) has initiated legal proceedings against cryptocurrency exchange HTX, alleging that the company continued to promote crypto asset services to UK consumers in violation of financial promotion rules.

The FCA stated that HTX published illegal marketing content on platforms such as TikTok, X, Facebook, Instagram, and YouTube. Despite receiving prior warnings, HTX failed to cease its non-compliant activities. Currently, the FCA has requested social media platforms to block HTX's accounts targeting UK users and has asked the Apple App Store and Google Play Store to remove the HTX application.

Furthermore, the FCA pointed out that HTX's organizational structure is opaque, and multiple attempts at communication have gone unanswered. HTX has now been added to the FCA's warning list, meaning UK users will not be protected by the Financial Ombudsman Service in the event of losses.