UK Regulator and Crypto Exchange HTX Locked in Settlement Negotiations

Settlement Talks Between FCA and HTX Over Crypto Marketing Allegations

By Kirstin Ridley and Elizabeth Howcroft

LONDON, Aug 13 (Reuters) – Britain’s financial regulator and HTX, a cryptocurrency exchange under UK and European Union sanctions, are in talks to settle allegations that the group is illegally promoting crypto services in the UK, court documents show.

Background of the Lawsuit

The Financial Conduct Authority last October sued HTX — formerly known as Huobi — one of the world’s largest crypto platforms, in which Chinese billionaire Justin Sun bought a controlling stake in 2022. 

But London’s High Court has halted proceedings to give both sides two…