UK Crypto Regulators Bring Liberland PM Justin Sun to Court: TRX Value Responds
Regulators in the UK have initiated legal proceedings against HTX, the exchange associated with Justin Sun, signifying a significant advancement in the nation’s campaign to regulate unlawful cryptocurrency advertising.
According to a report by Reuters, the Financial Conduct Authority (FCA) lodged a civil lawsuit on Wednesday, October 22, in the High Court of London against HTX, which was formerly known as Huobi.
The authority asserts that the trading network promoted crypto services to consumers in the UK without the necessary authorization.
The lawsuit also identifies four unnamed individuals linked to HTX’s operations and marketing efforts. The FCA mentioned that this action is part of its initiative to safeguard consumers and uphold confidence in the UK’s financial environment.
HTX, which has long been connected to Tron’s founder Justin Sun, who acts as an adviser to the trading platform and claims the title of Prime Minister of Liberland, has yet to respond.
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What Implications Does the High Court Case Hold for Foreign Crypto Exchanges Targeting the UK?
The FCA offered limited details about the filing but suggested it pertains to violations of the UK financial promotions regulations, which were enacted in 2023.
This compliance mandates that cryptocurrency firms comply with rigorous criteria before marketing to clients in the UK.
This legal action underscores the expanding reach of digital currency regulators over firms attempting to engage British consumers from abroad. It also signals that entities linked to high-profile figures, such as Sun, are now under closer scrutiny.
The ruling, now that the lawsuit is in the High Court, may impact how foreign exchanges align with regulatory standards in one of the world’s most tightly regulated financial markets.
Months prior to the lawsuit, regulators had cautioned the firm. In October 2023, the FCA added HTX, which used to be Huobi, to its warning list, describing it as an unlicensed entity that may be targeting UK customers.
All organizations prompting UK consumers to engage with digital currency, irrespective of their location, must be authorized or have their promotions approved under the newly implemented FCA rules, effective from October 8, 2023.
What Impact is the Court Case Having on TRX Prices?
Tron’s cryptocurrency, TRX, was trading at approximately $0.32 late Tuesday, reflecting a decline of about -1% for the day.
The token’s crypto market capitalization remained around $30 billion, positioning it among the top ten cryptocurrencies by value.
This is largely fueled by the significant role of the Tron Protocol in facilitating USDT transactions.
By September 2025, TRON managed nearly 50% of all USDT in circulation, approximately valued at $78 billion, and processed around $6 to $7 trillion in stablecoin transactions over the year.
More than three-quarters of all USDT transactions now move through TRON.
Find out more from… pic.twitter.com/120Uwq8O6F
— TRON DAO (@trondao) October 21, 2025
This new lawsuit intensifies Justin Sun’s ongoing legal challenges. In the United States, the SEC filed a lawsuit against him and several related entities in March 2023 for allegedly marketing unregistered securities, including TRX and BTT, along with participating in wash trading.
The UK High Court will outline initial procedural steps once the defendants are notified. Potential results may include restraining orders that limit UK-facing advertisements or financial penalties should the court substantiate violations.
The FCA has suggested that additional enforcement actions are forthcoming as it tightens oversight over digital currency advertising, a domain long criticized for deceptive promotions.
Traders are eager to discern if HTX will provide a response, when the initial hearings will occur, and whether TRX’s downturn will exacerbate as legal pressures mount.
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The article UK Crypto Enforcers Drag Liberland Prime Minister Justin Sun Into Court: TRX Price Reacts was first published on 99Bitcoins.
