UK Bans Pump.fun Amid Controversial Meme Coin Surge

Pump.fun, a controversial platform based on Solana, has reportedly been banned in the United Kingdom.

The platform, known for its meme coin creations, now lists the UK as a “restricted jurisdiction” on its website. The move follows a warning from the UK’s Financial Conduct Authority (FCA) earlier this week.

Launched as a tool to easily generate meme tokens for a small fee, Pump.fun quickly gained attention and sparked a surge of new tokens. In June, it surpassed Ethereum in daily revenue, and by October, it had accumulated over 1 million SOL in total fees.

According to data from crypto analytics firm Dune, more than 4.3 million tokens have been launched on the platform.

Despite its rapid rise, Pump.fun has also faced controversy, especially with its live stream feature, which allowed users to broadcast unsettling content to promote their tokens. This led to significant backlash within the crypto community, with many speculating that the platform’s ban was inevitable.

However, some believe that bans may not be effective due to users’ ability to bypass them with VPNs. Ethereum supporter Eric Conner commented that the UK ban could be the start of broader efforts by governments to target specific blockchains, emphasizing the importance of true decentralization.

Author

Alexander Stefanov

Reporter at CoinsPress

Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.