The Currency analytics
By Evie Vavasseur
The UK's financial watchdog struck hard. On October 21, 2025, the Financial Conduct Authority filed legal papers against Huobi Global S.A.
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.
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.
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…
Anyone who thinks they might be one of the unnamed parties should email the FCA at Enquiries-HTX@fca.org.uk right away.
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.
Deputy Master Dovar's decision to allow international service means the FCA can now go after HTX operators wherever they live or work.
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,…
The regulator has been warning about unregistered crypto firms for years. This Huobi case represents a major escalation in enforcement tactics.
Industry watchers think this could set a precedent for how UK regulators handle international crypto exchanges going forward.
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.
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…
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.
The February court order gives the FCA powerful tools, but using them effectively will take time and resources.
Market analysts say the Huobi case could influence how other regulators worldwide approach offshore crypto exchanges.