Odious Solana-based meme coin factory Pump.fun has been reportedly banned in the U.K.
Its website now says that the UK is a “restricted jurisdiction.”
Earlier this week, the Financial Conduct Authority (FCA), the UK’s main financial regulator, issued a warning about Pump.fun.
Pump.fun gained a lot of prominence earlier this year, allowing virtually anyone to generate a token with a few clicks and a small fee. Its popularity has led to a new Cambrian explosion of meme tokens.
In early June, it managed to surpass Ethereum by daily revenue. In October, Pump.fun topped 1 million SOL in total fees.
The total number of tokens launched on the platform has now surpassed 4.3 million, according to data provided by crypto analytics platform Dune.
Pump.fun recently attracted renewed attention on social media because of its in-built live stream feature that made it possible for some incredibly desperate users to stream extremely disturbing content to promote their tokens.
The livestream feature, which has resulted in some revolting and nauseating promotional stunts, attracted strong backlash within the cryptocurrency community, with many members speculating about when the platform will be inevitably banned.
However, such bans might not be efficient since they can be easily circumvented with the help of a VPN.
Ethereum proponent Eric Conner (@econoar) argues that the UK banning Pump.fun is “only the beginning” of nation-states targeting chains. “Soon you will all understand the value of true decentralization and why Ethereum makes it a priority,” he added.
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