Core Viewpoint - The UK's Financial Conduct Authority (FCA) has initiated legal action against HTX, a global crypto exchange, for unlawfully promoting crypto asset services to UK consumers without proper authorization [2][4]. Group 1: Regulatory Actions - The FCA has filed civil proceedings in London's High Court against HTX, formerly known as Huobi, for breaching the UK's financial promotions regime [2]. - HTX is not authorized to operate in Britain, as indicated on the FCA's website [2]. - The FCA aims to protect consumers and maintain the integrity of UK financial markets through this action [2]. Group 2: Company Background - HTX was founded in 2013 and is advised by Chinese entrepreneur Justin Sun, who is also a significant investor in various crypto ventures [3]. - Sun has invested at least $75 million in the Trump family's crypto project, World Liberty Financial, and is linked to the top holder of Donald Trump's "$TRUMP" memecoin [3]. Group 3: Compliance and Regulations - The FCA introduced new rules in 2023 requiring firms promoting crypto assets to obtain authorizations and register under money laundering regulations [4]. - HTX is currently listed on the FCA's warning list, which identifies companies that consumers should avoid [4]. Group 4: Legal Scope - The FCA's case includes Huobi Global and four groups identified as "persons unknown," covering individuals such as owners and operators of the business [5].