Pump Fun Blocks UK Users After FCA Warning Over Regulatory Compliance

Pump fun, a Solana-based memecoin platform, has blocked access to users in the United Kingdom following a warning from the UK’s Financial Conduct Authority (FCA).

The platform, which enables users to launch memecoins without coding skills, was told it could be offering unregistered financial products, prompting the restriction.

The FCA’s alert highlighted Pump fun’s failure to meet regulatory standards for financial services, which requires approval under UK law. In response, the platform made immediate changes to its website, preventing UK residents from accessing its services. The ban applies to all users in the country, aligning with the FCA’s advice to avoid engaging with unregistered platforms.

Pump fun, which gained popularity earlier this year, is known for creating and trading memecoins like PNUT and WIF. The platform quickly became a significant player on Solana, making up a large portion of decentralized exchange activity. Despite its success, the platform has faced legal challenges, including concerns about its content moderation and transparency, particularly regarding its livestreaming feature, which was disabled due to controversial content.

The FCA’s warning is part of a broader regulatory crackdown in the UK, where cryptocurrency platforms must meet strict anti-money laundering standards. Pump fun’s UK-based registration adds further complexity, as local authorities now have jurisdiction over its operations. Legal experts suggest that the platform’s founders, believed to be UK residents, could face additional scrutiny.

While Pump fun has confirmed the ban is permanent for UK users, it has not addressed the FCA’s concerns or clarified its next steps. This ongoing situation raises questions about how the platform will navigate its future, especially in other regions where it remains operational.