UK FCA Files Lawsuit Against Justin Sun-Linked HTX: Report

The UK’s Financial Conduct Authority (FCA) has taken legal action against HTX, a global crypto exchange linked to Tron founder Justin Sun.

As detailed, the regulator filed a case in London’s High Court, saying the company promoted crypto services to UK users without proper approval.

FCA Accuses HTX of Breaking UK Rules

According to a Bloomberg report, the Financial Conduct Authority has filed a civil case against HTX, formerly known as Huobi.

It is worth mentioning that the case was submitted to London’s High Court earlier this week.

The regulator said HTX promoted crypto asset services to people in the UK without meeting the country’s legal requirements.

The FCA said in a short statement that the case is part of its work to protect consumers and keep UK financial markets fair.

Additionally, the authority also warned people not to use the exchange, which remains on its list of unregistered firms.

Under UK law, companies that promote or sell crypto assets must be authorized by the FCA.

The regulator introduced new rules in 2023 to make the market safer and more transparent.

These rules require firms to register and follow anti–money laundering standards before they can market to UK consumers.

HTX does not have FCA approval. The regulator believes the company ignored the rules and continued to advertise its services in the UK.

The lawsuit names Huobi Global and four unnamed parties described as “persons unknown,” which may include people responsible for the company’s management or promotions.

The FCA has not shared more details about the case, saying the matter is now before the court. Representatives of HTX have not shared commentary on the suit.

Justin Sun’s Connection to HTX and the Trump Family

HTX lists Justin Sun as a global adviser. Sun is best known as the founder of the Tron blockchain and the Chief Executive Officer of BitTorrent Inc.

Although his name does not appear among the defendants, his close role with the exchange has drawn attention.

Sun has also been involved in several cryptocurrency projects linked to the Trump family.

He supported World Liberty Financial, a digital asset venture connected to President Donald Trump’s sons.

Reports suggest that Sun spent about $75 million on the project’s WLFI token.

Blockchain data also shows that a wallet labeled “SUN,” believed to be tied to HTX, holds a large amount of the $TRUMP memecoin associated with Donald Trump.

This has further connected Sun to both HTX and Trump’s growing presence in the crypto space.

Meanwhile, Sun and his spokesperson have not responded to media questions about the UK lawsuit.

His involvement with HTX and other crypto projects continues to draw regulatory attention around the world.

Regulator Tightens Oversight of Crypto Firms

The FCA’s action against HTX shows the regulator’s tougher stance on unregistered crypto businesses.

Per the update, the authority has said it wants to build a fair and competitive crypto market in the UK.

It also aims to stop overseas companies from reaching UK consumers without following local laws.

HTX was founded in 2013 and has grown into one of the world’s largest digital asset exchanges.

Despite its global reach, the exchange is not allowed to operate in Britain. The lawsuit could become a key test of how the UK enforces its crypto rules against companies based abroad.

The FCA has said that its main goal is to protect investors and ensure that financial promotions follow the law.

As the case moves forward, the outcome could affect how other crypto platforms choose to engage with UK users.

HTX and Justin Sun have not yet made any public statements about the legal action.

The case highlights the growing pressure on crypto firms to comply with national regulations as governments tighten control over the fast-changing digital asset market.