BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

Why PumpDotFun is Being Restricted in the UK; Is the U.S. Next?

by Sham
December 6, 2024
in Crypto, Featured
A A
Why PumpDotFun is Being Restricted in the UK; Is the U.S. Next?
4
SHARES
Share on TwitterShare on Reddit
  • Solana’s memecoin factory Pump.fun shut off access to U.K. crypto traders, citing “laws and regulations” affecting the platform.
  • This geoblock comes after the U.K.’s Financial Conduct Authority warned that Pump.fun may be operating without permission.
  • Pump.fun has become a popular launchpad for memecoins on Solana, spawning multibillion-dollar hits like PNUT and WIF, generating over $250 million for its founders.

In a recent development, Pump.fun, a popular memecoin factory on the Solana blockchain, has ceased operations for crypto traders based in the United Kingdom. This unexpected move is believed to be in response to regulatory pressures.

JUST IN: 🇬🇧 @pumpdotfun has been restricted in the U.K. 😳

The U.S. is speculated to be hit next

What is the reason for this? pic.twitter.com/wyt5rJl0D2

— BlockNews (@blocknewsdotcom) December 6, 2024

Regulatory Hurdles Prompt Geoblock

The decision to block UK-based crypto traders from using Pump.fun came into effect on Friday. The move follows a warning from the Financial Conduct Authority, the UK’s principal financial regulator, which suggested that Pump.fun might be offering or promoting financial services or products without the necessary permissions. While a blockade was confirmed by one of the founders of Pump.fun, they declined to provide further comments on the matter.

chaincatcher.com

The Rise and Influence of Pump.fun

Since its inception earlier this year, Pump.fun has emerged as a vital launchpad for memecoins on the Solana blockchain. It has been instrumental in the creation of several multibillion-dollar assets, such as PNUT and WIF. Reportedly, the platform’s success has generated over $250 million for its founders, who are based in the UK.

Community Response to the Ban

In the wake of the ban, memecoin traders promptly responded by creating joke cryptocurrencies that satirized the recent news. However, as of now, none of these assets have gained significant traction.

Conclusion

As this situation unfolds, it further highlights the growing influence of regulatory bodies on the operations of crypto platforms. The case of Pump.fun serves as an important reminder for similar platforms to ensure legal compliance to avoid such abrupt disruptions.

Tags: PNUTPump.FunPumpDotFunSolana blockchainWIF
Tweet1ShareShare2

DON'T MISS THESE! HOT OFF THE PRESS

Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch
Crypto

Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch

May 8, 2025
JRNY CLUB Announces $JRNY Token and EARN Platform
Breaking News

JRNY CLUB Announces $JRNY Token and EARN Platform

May 7, 2025
Everything You Need to Know About Doodles Upcoming DOOD Token
Crypto

Everything You Need to Know About Doodles Upcoming DOOD Token

May 7, 2025
Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?
Crypto

Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?

May 7, 2025
U.S. Aims to Become Premier Hub for Digital Asset Innovation, Says Bessent
Crypto

U.S. Aims to Become Premier Hub for Digital Asset Innovation, Says Bessent

May 7, 2025
Analysts Predict Solana’s POPCAT Could Double Amid Surging Memecoin Interest: Here is Why
Crypto

Analysts Predict Solana’s POPCAT Could Double Amid Surging Memecoin Interest: Here is Why

May 7, 2025
Load More

Related News

Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch

Ethereum ETH Breaks $2,000: Here is The Next Price Level You Need to Watch

May 8, 2025
JRNY CLUB Announces $JRNY Token and EARN Platform

JRNY CLUB Announces $JRNY Token and EARN Platform

May 7, 2025
Everything You Need to Know About Doodles Upcoming DOOD Token

Everything You Need to Know About Doodles Upcoming DOOD Token

May 7, 2025
Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

Federal Reserve Holds Steady as Trump Tariffs Threaten Economic Stability: The Hard Truth Exposed

May 7, 2025
Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?

Mark Cuban Slams Trump’s Crypto Ventures as Self-Serving Disaster: Is This True?

May 7, 2025
Discord Twitter Youtube TikTok Instagram

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Newsletter
  • Advertise
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano China Coinbase crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX Gary Gensler grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin Technology twitter US Web3 xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • Home
  • Crypto
  • Memecoins
  • Technology
  • Politics
  • Finance
  • NFT
  • DeFi
  • Opinion

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.