Crypto exchange HTX exits the UK after settling with the FCA
The former Huobi exchange has stopped accepting deposits from British customers and agreed not to target them with crypto promotions.
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The former Huobi exchange has stopped accepting deposits from British customers and agreed not to target them with crypto promotions.
The U.K. claims to aspire to become a global cryptocurrency hub, an ambition that would appear to be at odds with the attitude to crypto purchases of its major banks.
When it comes to the U.S., Bybit will look to work with with someone like Interactive Brokers (IB), for example, said CEO Ben Zhou.
A crypto trader in the U.K. claimed masked intruders stole nearly $800,000 in cryptocurrency at knifepoint, furthering concerns of “wrench attacks” spreading in the country.
Britain said the crypto platforms and two payment services may have helped Russia evade financial sanctions, with two handling transactions involving the Kremlin-backed A7 network.
The five-month application window precedes the new regulatory framework’s planned introduction in October 2027, after years of legislative development.
Barclays, NatWest, and HSBC and others used tokenized deposits for remortgages and a marketplace-payment test, taking bank-issued digital cash beyond a single institution.
Increased enforcement coincides with detailed regulatory guidance issued to crypto firms ahead of the full framework taking effect in late 2027.
The license allows institutional traders to access perpetual futures and gives U.K. retail customers the ability to trade equities to begin with.
The U.K. FCA’s crypto framework has been praised for prioritizing global liquidity and institutional adoption, but the authorization process is expected to be daunting.