Solana

Bitcoin

Read

Thought

The U.K.’s Financial Conduct Authority issued a public notice against Solana meme coin Retardio, while holders celebrated a 16% price surge following the news. 
Retardio, a viral Solana (<a href="https://crypto.news/price/solana/" target="_blank">SOL</a>) meme coin project, may be providing or promoting financial services without regulatory permission, the FCA <a href="https://www.fca.org.uk/news/warnings/retardio-retardioxyz" target="_blank" rel="nofollow">announced</a> in a Dec. 16 update. 
Engaging with the meme coin disqualifies investors from using the Financial Ombudsman Service, the FCA’s complaint resolution channel. Retardio buyers are also excluded from protections offered by the Financial Services Compensation Scheme. 
“This means it’s unlikely you’d get your money back if the firm goes out of business,” according to the FCA notice. 
Retardio is a popular Solana meme coin with a $111 million market cap. The token spiked 16% following the FCA’s notice, after previously peaking near $240 million. The Retardio community responded to the news with memes and jokes on social media. 
The FCA issued a similar notice against the meme coin launchpad Pump.fun in early December. Pump.fun subsequently <a href="https://crypto.news/solalas-pump-fun-bans-uk-users-after-fca-warning/" target="_blank">restricted</a> platform access for U.K. users. 
 You might also like: <a rel="" href="https://crypto.news/solalas-pump-fun-bans-uk-users-after-fca-warning/"> Solana’s Pump.fun bans UK users after FCA warning </a> 
<h2 class="wp-block-heading" id="fca-crypto-scrutiny-amped-ahead-of-2025-plan">FCA crypto scrutiny amped ahead of 2025 plan</h2> 
Also on Dec. 16, the FCA <a href="https://crypto.news/uk-to-ban-public-crypto-offers-in-incisive-new-regulatory-climate/" target="_blank">released</a> a paper proposing tighter restrictions on public crypto offers. The regulator plans to ban unregulated firms from providing services, building on 2023’s prohibition of digital asset promotions targeting U.K. investors. 
U.K. authorities plan to implement crypto regulations by 2025, crypto.news <a href="https://crypto.news/uk-government-to-introduce-legislation-on-stablecoins-staking-report/" target="_blank">reported</a> in November. Officials said stablecoins and staking would likely fall within the purview of introduced policies. 
Thought leaders like On Chain partner Brett Hillis <a href="https://crypto.news/the-uk-has-to-get-its-crypto-house-in-order-opinion/" target="_blank">opined</a> that Britain must standardize its digital asset frameworks, especially following Donald Trump’s re-election. The government <a href="https://crypto.news/uk-government-found-to-have-billions-of-dollars-bitcoin-arkham/" target="_blank">holds</a> Bitcoin worth over $6 billion, mostly from criminal seizures. 
 Read more: <a rel="" href="https://crypto.news/uk-to-ban-public-crypto-offers-in-incisive-new-regulatory-climate/"> News UK to ban public crypto offers in incisive new regulatory climate </a>

UK FCA FUDs Retardio meme coin

Table of Contents

crypto.news

Other articles published on Dec 16, 2024

Microstrategy surges 6.5% in pre-market trading

Crypto Fund Recovery in South Korea Marks New User Protection Step

LCAI Crypto Price Prediction How Much Will $600 Invested in Lightchain AI Today Be Worth in 12 Mo...

Meet Shiba Inu Killer – This $0.0007 Coin Is Tipped to Overtake the Meme Coin Giants In 2025

Bitcoin Reaches New Heights as Market Anticipates Key Developments

Qubetics’ 20% Price Surge in the Final Stage, Solana’s Rising Investor Confidence, and Stacks’ Po...

Join our free newsletter for daily crypto updates!