Regulations
By Evie Vavasseur
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The UK's financial watchdog struck hard. On October 21, 2025, the Financial Conduct Authority filed legal papers against Huobi Global S.A.
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The FCA's court filing in London's Chancery Division targets everyone who owns or controls the HTX platform, which used to be called Huobi.
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On February 4, 2026, Deputy Master Dovar signed off on something big - he let the FCA serve legal papers outside the UK through alternative methods.
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The paperwork pile keeps growing. Key documents include the original Claim Form from October 21, 2025, the Particulars of Claim from the same date, and an Application Notice…
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Anyone who thinks they might be one of the unnamed parties should email the FCA at Enquiries-HTX@fca.org.uk right away.
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Huobi Global has been on the FCA's radar for months now. The exchange rebranded to HTX but that didn't fool anyone - same company, same problems with UK regulations.
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Deputy Master Dovar's decision to allow international service means the FCA can now go after HTX operators wherever they live or work.
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But the social media angle makes this case different from typical enforcement actions. The FCA claims unknown people have been pushing HTX promotions across multiple platforms,…
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The regulator has been warning about unregistered crypto firms for years. This Huobi case represents a major escalation in enforcement tactics.
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Industry watchers think this could set a precedent for how UK regulators handle international crypto exchanges going forward.
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Huobi Global hasn't said much publicly about the court case. Their silence is probably strategic - anything they say now could be used against them later.
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The timing of this legal action isn't random. The FCA has been cracking down on unauthorized crypto activities throughout 2025, and the Huobi case represents their biggest…
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Legal experts expect this case to drag on for months. International service of process takes time, and identifying all the unnamed defendants will be challenging.
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The February court order gives the FCA powerful tools, but using them effectively will take time and resources.
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Market analysts say the Huobi case could influence how other regulators worldwide approach offshore crypto exchanges.
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