UK Crypto Enforcers Drag Liberland Prime Minister Justin Sun Into Court: TRX Price Reacts

UK regulators have taken legal action against HTX, the exchange linked to Justin Sun, marking a major step in the country’s effort to police unlawful crypto promotions. 

As per the Reuters report, the Financial Conduct Authority (FCA) filed a civil lawsuit on Wednesday, October 22, in London’s High Court against HTX, previously known as Huobi. 

The regulator claims the exchange promoted crypto services to UK consumers without proper authorization.

The case also names four unidentified individuals associated with HTX’s operations and marketing activities. The FCA stated that the action is part of its effort to protect consumers and maintain trust in the country’s financial system.

HTX, long associated with Tron founder Justin Sun, who serves as an adviser to the platform and is the self-proclaimed Prime Minister of Liberland, has not issued a response.

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What Does the High Court Case Mean for Foreign Crypto Exchanges Targeting the UK?

The FCA did not provide much information regarding the filing but indicated that it is connected with the breach of the UK financial promotions regime, which was introduced in 2023. 

The rule will see crypto companies meet stringent requirements before advertising to customers in the UK.

The legal move highlights the increasing scope of cryptocurrency regulators in their jurisdiction over the crypto enterprises that target British consumers abroad. It is also an indication that companies associated with big names, such as Sun, are now being scrutinized more carefully.

The ruling, now that the case is in the High Court, may influence how foreign exchanges adopt compliance in one of the most regulated financial markets in the world.

Regulators had warned the company months before the case. In October 2023, the FCA added HTX, formerly Huobi, to its list of warnings, describing it as an unauthorized company that could be targeting UK customers.

All entities encouraging UK consumers to use crypto, regardless of location, should be authorized or have their advertisements accepted under new FCA regulations, effective from October 8, 2023. 

How is TRX Price Reacting to the Justin Sun Court Case?

Tron’s token, TRX, was trading near $0.32 late Tuesday in down about -1% for the day. 

Market Cap

24h 7d 30d 1y All Time

The token’s market capitalization hovered around $30Bn, keeping it among the top ten digital assets by size.

This is largely driven by the prominence of Tron Network in facilitating USDT transactions.

By September 2025, TRON handled nearly half of all USDT in circulation, about $78 billion worth, and processed roughly $6 to $7 trillion in stablecoin transactions over the year.

More than three out of every four USDT transfers now move through TRON.

Read more from… pic.twitter.com/120Uwq8O6F

— TRON DAO (@trondao) October 21, 2025

The new lawsuit deepens Justin Sun’s ongoing legal troubles. In the United States, the SEC sued him and several related firms in March 2023 for allegedly selling unregistered securities, including TRX and BTT, and for engaging in wash trading.

Next, the UK High Court will outline early procedural steps once the defendants receive notice. Possible outcomes include injunctions that restrict UK-facing promotions or financial penalties if the court confirms violations.

The FCA has hinted that more enforcement cases are on the way as it tightens control over crypto advertising, a sector that has long been criticized for misleading promotions. 

Traders are waiting to see if HTX issues a response, when the first hearings will take place, and whether TRX’s decline will deepen as legal pressure builds.

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