The UK’s Financial Conduct Authority (FCA) has reached a settlement with Huobi Global S.A. in legal proceedings over breaches of UK financial promotion rules by HTX, the global crypto exchange formerly known as Huobi. As part of the outcome, the regulator has obtained High Court undertakings to ensure that HTX will not knowingly promote cryptoasset services unlawfully to UK consumers.

HTX is no longer active in the UK. According to the FCA, UK consumers can no longer make deposits on the platform, new UK users cannot sign up, and the exchange will not target, solicit, or actively seek to engage UK consumers. Existing UK users have been directed to information published on HTX’s website on the availability of its services in the UK…