Pump.fun Blocks UK Users
Pump.fun, a platform based on Solana that offers users the ability to create memecoins without coding skills, has restricted access to its services to users in the United Kingdom.
The restriction comes after the UK’s Financial Conduct Authority (FCA) warned that Pump.fun may be offering unregistered financial products. As a result, Pump.fun has made changes to its website to prevent UK residents from accessing its services.
The FCA’s alert stated that Pump.fun is not meeting regulatory standards for financial services and is therefore required to have UK approval. This ban applies to all users in the UK, in line with the FCA’s recommendation to avoid interacting with unregistered platforms.
Previously gaining popularity earlier this year, Pump.fun is known for its creation and trading of memecoins such as PNUT and WIF. The platform has become a significant player on the Solana network and has contributed to a large portion of decentralized exchange activity.
However, despite its success, Pump.fun has faced legal challenges regarding its content moderation and transparency, including the suspension of its livestreaming feature due to controversial content.
