Access to Pump.fun Blocked for UK Users

Following a warning from the FCA, the Solana-based meme coin launch platform Pump.fun has updated its terms of service in the country. British users can no longer access the service’s website.

PUMP FUN BANNED IN THE UNITED KINGDOM: WEBSITE pic.twitter.com/qk8YuuNMcQ

— Aggr News (@AggrNews) December 6, 2024

“This company may be providing or promoting financial services or products without our permission. You should avoid dealing with this firm and beware of scams,” states the agency’s website.

Under UK law, all crypto companies and service providers related to digital assets must obtain regulatory approval before commencing operations in the region.

The Solana-based platform’s revenue in November reached a record $93 million, marking an increase of approximately 208% compared to October. The platform’s cumulative revenue amounted to $247 million.

According to a dashboard on Dune, over 4.3 million meme tokens have been issued on Pump.fun to date. 

The total capitalization of assets generated by the service exceeds $7.4 billion, according to CoinGecko. 

In October, Pump.fun developers announced plans to launch a token and introduced the Pump Advanced trading terminal with enhanced features for advanced users. 

At the end of November, the platform disabled streaming, leading to a one-third drop in revenue.