The UK’s Financial Conduct Authority (FCA) has initiated a lawsuit against HTX, a cryptocurrency exchange associated with billionaire Justin Sun, who has invested heavily in crypto ventures involving the Trump family.
The FCA has filed a civil suit in London’s High Court against HTX for “unlawfully promoting cryptoasset services to UK consumers in breach of the UK’s financial promotions regime.” The FCA’s website indicates that HTX is not authorized to operate in the UK.
Justin Sun, a “global advisor” for HTX and originally from China, has invested $75 million in tokens issued by the Trump family’s World Liberty Financial. He purchased these tokens shortly before a US lawsuit against him and three of his companies for “wash trading” was paused earlier this year, as reported by the Financial Times.