The UK's Financial Conduct Authority (FCA) has stepped up its enforcement of unregistered cryptocurrency exchanges, issuing warnings to hundreds of businesses and launching a lawsuit against one of the largest offshore platforms in the sector. The crackdown comes after the regulator has repeatedly warned in recent months that many businesses are offering services to UK customers without the proper authorisation.
In October, the UK's Financial Conduct Authority (FCA) named dozens of platforms of concern, including Elite Bit Markets, Nexure Gainbit, Plux Crypto, and HTX, formerly known as Huobi. The agency said that most of these targeted companies promoted cryptocurrency products or services to UK residents without completing registration under UK anti-money laundering regulations.
On Tuesday, the UK's Financial Conduct Authority (FCA) confirmed that it had filed a lawsuit against HTX for promoting its cryptocurrency trading business to UK users. A spokesperson for the agency said: "We have seen a number of cryptocurrency businesses respond positively to our financial promotion regulations; however, we will not hesitate to take action if we find that there are still businesses operating in violation."
The UK Financial Conduct Authority has filed a lawsuit against HTX in a cryptocurrency crackdown
2025-10-23 04:41:48
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