UK's FCA Initiates Legal Action Against HTX, Accusing It of Illegal Marketing of Crypto Services

According to Odaily, the UK Financial Conduct Authority (FCA) has initiated legal action against cryptocurrency exchange HTX, accusing the company of continuing to promote crypto asset services to UK consumers in violation of financial promotion rules.

The FCA stated that HTX posted illegal marketing content on platforms such as TikTok, X, Facebook, Instagram, and YouTube. Despite previous warnings, HTX has not ceased 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 and Google app stores to remove the HTX application.

Furthermore, the FCA pointed out that HTX's organizational structure is opaque, and multiple attempts at communication have received no response. 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.