Solana Meme Coin Platform Pump.fun Shutters Access to UK Users

According to a notice on the Pump.fun website, the UK is now classified as a restricted jurisdiction, barring residents from using its services, which include the creation and trading of Solana tokens without any coding expertise. The statement clarifies that this decision was made “in accordance with the laws and regulations of the United Kingdom,” marking a significant response to mounting regulatory pressure.

Source: X

FCA’s Warning Spurs Action

The move comes just three days after the FCA issued a stark warning about Pump.fun, advising the public to avoid dealings with the platform. “This firm may be providing or promoting financial services or products without our permission,” read the FCA’s advisory. 

Source: X

A History of Controversy

Pump.fun has been embroiled in a series of controversies since its January launch, repeatedly raising ethical and legal concerns. Among the most shocking incidents:

• In May, a user livestreamed self-immolation on the platform to promote their meme coin, prompting Pump.fun to integrate livestreaming as a feature—a decision that was later reversed after additional scandals.
• In October, child sexual abuse material was discovered on the platform, an incident that highlighted lapses in its moderation efforts.
• Subsequent livestreamed threats to animal life, including a staged chicken beheading and a faked suicide, forced Pump.fun to disable its livestreaming feature altogether.

Despite these controversies, the platform dominated Solana’s on-chain activity in November, accounting for 62% of transactions, according to Dune Analytics data.

Legal Challenges and Internal Strife

Pump.fun’s troubles extend beyond its user base. In May, a disgruntled ex-employee, Jarett Dunn (aka Stacc), drained $2 million from the protocol, claiming his actions were intended to “kill” the platform due to its harmful impact on users. Dunn pleaded guilty in August but is now attempting to withdraw his plea, positioning himself as a whistleblower.

“Where is this company registered and paying taxes?” Dunn questioned on Twitter following the UK user ban. Pump.fun is registered in the UK as Baton Corporation Ltd., with its core team reportedly based in London—a detail that raises questions about the legal implications of banning UK users while operating as a UK-registered entity.

What’s Next for Pump.fun?

The UK ban highlights growing regulatory scrutiny of crypto platforms operating in murky legal waters. For Pump.fun, which has long thrived in chaos, this move could mark the beginning of a broader reckoning. With its controversial history, lack of legal safeguards, and mounting regulatory challenges, the platform’s future remains uncertain—and its pivot away from UK users may only be the start of a larger battle.

The Solana meme coin community, however, remains unfazed, Source: X