FCA Tests Global Reach In HTX Crypto-Exchange Litigation

Nick Barnard, Partner at Corker Binning, writes for Law360 UK on the FCA’s High Court action against global crypto exchange HTX for illegally promoting crypto-asset services to UK consumers.

The case, Nick says, is a “key moment for the post-2023 crypto regime”, illustrating the challenge of regulating the global crypto-asset industry from one jurisdiction and indicating how the FCA may address enforcement ahead of crypto-assets being brought fully within the regulatory perimeter in 2027.

“By hauling the platform into the High Court, the FCA has signalled that its financial promotion rules are not optional guidelines for offshore operators, but binding obligations with real consequences,” he concludes.