HTX Stops UK Deposits After FCA Settlement—What Happens to Customers' Remaining Crypto?

Cryptocurrency exchange HTX, formerly Huobi, has stopped accepting deposits from UK customers and closed registration to new British users following a settlement with the Financial Conduct Authority (FCA), leaving existing customers with only one way to apply for withdrawal of any residual cryptocurrency assets still held in their accounts.

Residual assets refer to any cryptocurrency funds that UK customers still hold in their HTX accounts and have not yet withdrawn. The regulator announced the settlement on 29th October, saying HTX was no longer active in the UK and would not target, solicit, or actively seek to engage British consumers.

The settlement follows enforcement proceedings that the FCA commenced against HTX on 21st October 2025. The watchdog publicly announced its legal action on 10th February 2026, alleging that the exchange had continued promoting cryptocurrency services to British consumers in breach of financial promotion rules.

The FCA said HTX had repeatedly failed to engage with it before proceedings began. The exchange subsequently took steps to exit the UK market. The High Court's Tomlin Order, issued by Deputy Master Holden on 27th October, records that the FCA and Huobi Global had signed a confidential settlement agreement on 16th October.

Under the order, further proceedings were stayed, except where necessary to enforce the settlement. HTX undertook not to knowingly communicate, directly or indirectly, financial promotions that breach Section 21 of the Financial Services and Markets Act 2000 until 21st October 2031.

'Crypto firms should be under no illusion: being based overseas does not put them beyond the reach of UK law,' said Steve Smart, executive director of enforcement and market oversight at the FCA. 'The message to other firms is clear: follow the rules or face the consequences.'

A One-Time 48-Hour Withdrawal Window

The withdrawal arrangement is particularly important because UK accounts face restrictions beyond the deposit ban.

According to HTX's UK exit notice, existing UK customers can no longer deposit, trade, or transact across the exchange's products and services. However, customers with residual assets can request a conditional, one-time 48-hour withdrawal window.

The process is not automatic. Eligible customers must contact HTX customer support and request permission to withdraw their remaining holdings. The exchange may require users to complete identity verification and checks covering account ownership, sanctions compliance, anti-money laundering, fraud, and account security before approving access.

If a withdrawal request is approved, a user must personally withdraw all remaining assets during the 48-hour period. The exchange does not undertake to transfer the assets on users' behalf, and accounts are expected to close once the remaining holdings have been withdrawn.

Note that the arrangements are also subject to applicable restrictions under the UK's Personal Remittances General Licence, meaning that not every account or withdrawal request should be assumed to qualify.

Customers should therefore check the precise eligibility requirements before attempting to move their holdings. Those who cannot access their accounts or complete the verification process should seek clarification through HTX's customer-support channels.

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