Solana Meme coin launch pad Pump. Fun It can no longer be used in the UK, with the site's creators taking action after warnings from the country's financial regulator. Anonymous co-founder Alon They spoke Decrypt He confirmed that this is not a temporary measure and only affects the United Kingdom.
As a Site announcementThe UK is now the limited jurisdiction for Pump.fun, which allows users to create and trade Solana tokens without any coding experience. The move was made “in accordance with UK laws and regulations,” the announcement read, and explained that “this site is currently unavailable to users in the UK.”
The ban on UK users comes three days after UK regulator the Financial Conduct Authority (FCA) issued a warning about the launch pad.
“This company may be offering or promoting financial services or products without our consent.” FCA site reads. “Avoid dealing with this company and beware of scams.”
The FCA declined further comment on Decrypt. Alon confirmed Decrypt The decision was made by Pump.fun, and the platform was not forced to exclude UK users.
“Everything that needs to be said is on the site,” Alon said Decrypt. “This is permanent.”
Pump.fun has been embroiled in various controversies since January. In May, a user on the forum He burned himselfwhile live on Kick, to promote its meme coin – Pump.fun responded by adding streaming as a native feature for creators.
Then in October, Child sexual abuse found on Pump.fun After slipping through the fingers of the moderation team. Recently, the live streaming meta is back together Threats to animal life, chicken neck cutting and suicide. The site has removed its live streaming feature.
Despite its dubious moral and legal standing, Pump.fun accounts for 62% of transactions on Solana According to chain data in November, from Dune.
Before the meme coin dev burned himself out, a disgruntled ex-employee drained the $2 million protocol. He said I did it for a reason. He wanted to “kill” the protocolas a result of which he was “inadvertently injured[ing] People for a long time.”
Jarrett Dunn (b Stack on Twitter). He pleaded guilty in Augustbut it is. Trying to raise this complaint– Like that He seems to be trying to argue The attack was carried out with the intention of gaining information on the company.
“Where is this company registered and paying taxes?” Forest He wrote on TwitterResponse to UK user ban.
Pump.fun is registered in the UK Baton Corporation LimitedWith the staff – at the time of the attack, at least – they work in London. As such, the UK user ban raises serious questions about the company's future legal claims.
Crypto lawyer Preston ByrneManaging Partner at Burn and stormThey warned of this last week, saying that the UK would not tolerate low content moderation – which the platform seems to be suffering from. Likewise, the site had “no terms of service, no DMCA registration, and no copyright policy, no privacy policy,” which Byrne said put the company in a precarious legal position.
“The fact that the alleged founding members are all UK residents complicates the picture a bit,” Byrne said. Decrypt“England has a bigger advantage over them than the US team.
Edited by Andrew Hayward.
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