UK regulator sues HTX over alleged illegal promotions

The UK's Financial Conduct Authority (FCA) has sued cryptocurrency exchange HTX in the High Court for conducting illegal financial promotions aimed at British consumers, Decrypt reported. According to the regulator, HTX ignored multiple warnings and continued to run unapproved advertisements on platforms such as TikTok, Facebook, Instagram, and YouTube, all while its ownership and operational structure remained opaque. The FCA has now requested that Google and Apple remove the HTX application from their app stores and has asked major social media networks to block the exchange's accounts. Access to HTX is reportedly already restricted on some platforms within the UK.