Tron (TRX) founder Justin Sun received troubling news from the UK.
The UK Financial Conduct Authority (FCA) has accused Justin Sun-linked cryptocurrency exchange HTX of violating financial regulations and illegally promoting crypto asset services to UK consumers, Bloomberg reported.
The FCA stated that the exchange had breached the country’s financial rules.
At this point, the FCA initiated legal action against HTX in London’s High Court.
HTX is alleged to have illegally promoted crypto asset services to consumers in the UK in violation of the country’s financial promotions regime.
The FCA’s website states that HTX is not authorised to operate in the UK.
Regulatory body FCA had previously warned UK consumers not to use HTX.
An FCA spokesperson said: “This action against HTX is part of our commitment to protecting consumers and preserving the integrity of the UK financial markets.”
It is not yet clear whether Sun has been added as a defendant in the lawsuit.
Tron founder Justin Sun serves as an advisor to HTX. Sun is also one of the largest holders of TRUMP, the official memecoin associated with US President Donald Trump.
*This is not investment advice.
Continue Reading: Tron (TRX) Founder Justin Sun Receives Disappointing News from the UK! Lawsuit Filed Against HTX!
