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UK Bans Pump Fun Platform Over FCA Warnings and Pump-and-Dump Concerns

Dec 6, 2024, 03:56 PM

The United Kingdom has imposed restrictions on the cryptocurrency platform Pump Fun, effectively banning its use within the country following warnings from the Financial Conduct Authority (FCA) regarding potential market manipulation and volatile trading practices associated with the platform. Pump Fun, known for its association with pump-and-dump schemes, has been restricted from UK residents, marking a significant regulatory crackdown on cryptocurrency trading platforms. This move reflects growing concerns over the stability and integrity of such platforms in the UK financial market.