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UNIHTX leaves UK under FCA settlement as KuCoin quits Russia and Belarus
The FCA says a High Court settlement bars HTX from promoting crypto services unlawfully to UK consumers, while KuCoin is ending services in Russia and Belarus for compliance reasons.
Why it matters: Two large exchanges are pulling out of major markets as regulators and sanctions regimes tighten the rules on where crypto platforms can operate and who they can serve.
Key points
- The FCA began proceedings against HTX in October 2025 and disclosed the action in February 2026.
- HTX has stopped taking deposits from existing UK customers and blocked new UK registrations.
- MEXC began winding down Russia and Belarus services on 20 Oct, and Bitget restricted both countries in October.
HTX is leaving the UK after an FCA settlement over alleged breaches of cryptocurrency advertising rules, the regulator said on 29 October. The Financial Conduct Authority said the High Court agreement stops the exchange, formerly known as Huobi, from knowingly promoting crypto services unlawfully to British consumers.
Steve Smart, the regulator's executive director of enforcement and market oversight, said firms based overseas are not beyond the reach of UK law. The settlement's financial terms are confidential and it does not amount to an admission of liability. British customers are directed to HTX's website for help withdrawing assets.
Separately, KuCoin said on 29 October it would immediately end all products and services for customers in Russia and Belarus, citing legal and regulatory compliance. Affected users will get individual notices with deadlines for closing positions and withdrawing funds, while those not contacted need take no action. KuCoin did not name the laws behind the move or say how many customers are affected.
MEXC and Bitget made similar moves earlier in October. MEXC began winding down services in both countries on 20 Oct, and Bitget added Russia, Belarus and Kazakhstan to its restricted jurisdictions.
What to watch: KuCoin says affected customers will receive individual notifications with deadlines for closing positions and withdrawing funds.
Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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