HTX and FCA seek settlement in UK crypto marketing lawsuit

HTX and the UK Financial Conduct Authority have entered settlement talks over allegations that the crypto exchange illegally promoted its services to British consumers, with High Court proceedings paused until late August while negotiations continue. Summary HTX and the FCA are in settlement talks over alleged breaches of UK crypto promotion rules. London’s High Court has paused the case until late August while negotiations continue. The FCA sued HTX in October after accusing the exchange of targeting UK consumers without authorization. HTX has also faced UK and EU sanctions linked to alleged Russia related financial activity. Reuters reported on Aug. 13, citing court documents, that the FCA and HTX have been given another two months to seek a settlement after the two sides began exchanging emails in March and initially held three months of negotiations. The discussions concern a lawsuit filed by the FCA in October against Panama-incorporated Huobi Global and unidentified people alleged to operate and control HTX. In February, the regulator accused the exchange of breaching financial promotion rules that have applied to cryptoassets in the UK since October 2023. HTX, formerly known...