BFSA NEGOTIATED WITH HTX ON THE ILLEGAL PROMOTION OF ENCRYPTION SERVICES

ACCORDING TO CNA, THE BRITISH FINANCIAL CONDUCT REGULATORY AUTHORITY (FCA) AND THE ENCRYPTED CURRENCY EXCHANGE (HTX) ARE NEGOTIATING A SETTLEMENT ON THE ALLEGATIONS OF THE GROUP ' S ILLEGAL PROMOTION OF ENCRYPTION SERVICES IN THE UK. THE FCA BROUGHT AN INDICTMENT AGAINST HTX IN OCTOBER OF LAST YEAR FOR VIOLATIONS OF BRITISH FINANCIAL PROMOTION RULES THAT HAVE BEEN IN FORCE SINCE 2023, WHICH WAS THE FIRST TIME THAT THE FCA BROUGHT A LAWSUIT AGAINST ENCRYPTION COMPANIES FOR MARKETING. THE HIGH COURT OF LONDON HAS NOW SUSPENDED PROCEEDINGS AND GRANTED THE PARTIES TWO MONTHS UNTIL LATE AUGUST TO RESOLVE THE DISPUTE. BOTH FCA AND HTX REFUSED TO COMMENT ON THE PROGRESS OF THE NEGOTIATIONS。