Justin Sun's HTX exchange is being sued by the UK's financial regulators.

The Financial Conduct Authority of the United Kingdom (FCA) has initiated a civil lawsuit in the London High Court against several entities within the HTX exchange ecosystem, accusing this platform of unlawfully promoting digital asset services to UK consumers, in violation of the country's financial promotion regulations.

According to Bloomberg, the FCA stated that this move is part of an effort to “protect consumers and maintain the integrity of the UK financial market.” Previously, the agency had warned users in the UK not to use HTX — the exchange still operating under the old brand Huobi in some markets.

HTX has a public connection with Tron founder, Justin Sun, who currently serves as an advisor to the exchange. Mr. Sun is also one of the major holders of a large amount of TRUMP — the official memecoin related to U.S. President Donald Trump.

It is currently unclear whether Justin Sun has been named in the lawsuit documents, and the FCA has not disclosed further details.

Regulatory authorities in the UK have long been wary of unlicensed crypto promotional activities. Last year, the FCA issued guidance and widespread warnings about the risks of investing in crypto products.

At the same time, the agency also proposed to broaden the scope of oversight to bring more crypto companies into the UK's financial regulatory framework — a policy expected to be finalized next year.

At the same time, the UK government and regulatory agencies are preparing legal frameworks to expand legal crypto activities, including plans to appoint a “digital market champion” and recently allowing the trading of approved bitcoin and ether ETP products — these steps are driving the debate on bringing crypto platforms into the formal compliance framework.

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