Pump.fun users in the United Kingdom have been banned from accessing their Solana meme coin launch pad.
Following a warning from the UK's Financial Conduct Authority, Pump.fun updates its terms of service to exclude British users, as seen via a website popup. FCA notice date December 3 previously stated that Pump.fun “could provide or promote financial services or products” without authorization from authorities.
Under UK regulations, all crypto businesses and digital asset service providers must obtain an FCA license before operating in the sector. As of 2020, 347 web3 start-ups have applied for registration with the FCA, but only 47 companies have been approved by June 2024, representing a success rate of 14%.
Pump.fun dispute
Canceling support for UK customers piled on a tumultuous time for the Solana (SOL) signaling protocol.
Pump.fun added live streams to its meme launching pad, hoping to expand content distribution options for creators and developers. Rampant abuse of the feature and borderline illegal activities on streams cough into community backlash and demanding stricter content moderation. Pump.fun disabled live streaming as a survey swallow his platform.
Platforms issuing fast track tokens increased the Solana meme coin mania, which spread into other blockchains like Tron (TRX) and The Open Network on Telegram. Protocols like Blum included meme launch pads on TON, and Tron founder Justin Sun called SunPump as Pump.fun competitive.
