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News

Marinade Finance UK Ban Users Accessing The Site, Raises Concerns Among Crypto Investors!

October 23, 2023 - Around 2 mins mins to read

Key Points:

  • Marinade Finance UK ban, triggered by FCA regulations, underscores the industry’s struggle with regulatory compliance and user access restrictions.
  • With $248 million locked on Solana’s blockchain, Marinade Finance’s substantial TVL speaks to its significance within the DeFi landscape.
  • Geo-blocking trends in the UK, affecting major platforms like Binance and Bybit, raise questions about the future of decentralized finance and crypto adoption worldwide.
Marinade Finance, has blocked users in the United Kingdom (Marinade Finance UK ban) from accessing the site due to “compliance concerns” over Financial Conduct Authority (FCA) regulations.
Marinade Finance UK Ban Users Accessing The Site, Raises Concerns Among Crypto Investors!

The landing page for users in the U.K. displays a warning message, although it states “users may withdraw liquidity, claim delayed tickets or delay unstake via our SDK.”

Marinade Finance UK ban is responsible for most of the total value locked (TVL) on the Solana blockchain, with $248 million spread across native and liquid staking products. The amount of assets across the entire Solana blockchain stands at around $350 million, according to DefiLlama.

Marinade Finance’s Impact on Global Crypto Landscape

Marinade Finance UK ban currently offers annual yields of 8.15% for native staking and 7.7% for liquid staking, with native staking being rolled out earlier this year.

Marinade Finance UK Ban Users Accessing The Site, Raises Concerns Among Crypto Investors!

Orca Finance, Solana’s largest decentralized exchange, added geo-blocking for U.K. users. The restrictions against U.K. users appear to be in response to the FCA’s new promotions rules, which restrict the marketing of crypto-related products or services.

Centralized crypto businesses like Bybit and Paypal have withdrawn from the U.K. market whilst Binance has temporarily paused new U.K. sign-ups following the release of the FCA’s promotions rule. Luno also blocked some customers from investing in crypto.

But geo-restrictions are rare for decentralized protocols, most of which do not require know-your-customer (KYC) checks.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Marinade Finance UK Ban

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Author

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.
News

Marinade Finance UK Ban Users Accessing The Site, Raises Concerns Among Crypto Investors!

Key Points:

  • Marinade Finance UK ban, triggered by FCA regulations, underscores the industry’s struggle with regulatory compliance and user access restrictions.
  • With $248 million locked on Solana’s blockchain, Marinade Finance’s substantial TVL speaks to its significance within the DeFi landscape.
  • Geo-blocking trends in the UK, affecting major platforms like Binance and Bybit, raise questions about the future of decentralized finance and crypto adoption worldwide.
Marinade Finance, has blocked users in the United Kingdom (Marinade Finance UK ban) from accessing the site due to “compliance concerns” over Financial Conduct Authority (FCA) regulations.
Marinade Finance UK Ban Users Accessing The Site, Raises Concerns Among Crypto Investors!

The landing page for users in the U.K. displays a warning message, although it states “users may withdraw liquidity, claim delayed tickets or delay unstake via our SDK.”

Marinade Finance UK ban is responsible for most of the total value locked (TVL) on the Solana blockchain, with $248 million spread across native and liquid staking products. The amount of assets across the entire Solana blockchain stands at around $350 million, according to DefiLlama.

Marinade Finance’s Impact on Global Crypto Landscape

Marinade Finance UK ban currently offers annual yields of 8.15% for native staking and 7.7% for liquid staking, with native staking being rolled out earlier this year.

Marinade Finance UK Ban Users Accessing The Site, Raises Concerns Among Crypto Investors!

Orca Finance, Solana’s largest decentralized exchange, added geo-blocking for U.K. users. The restrictions against U.K. users appear to be in response to the FCA’s new promotions rules, which restrict the marketing of crypto-related products or services.

Centralized crypto businesses like Bybit and Paypal have withdrawn from the U.K. market whilst Binance has temporarily paused new U.K. sign-ups following the release of the FCA’s promotions rule. Luno also blocked some customers from investing in crypto.

But geo-restrictions are rare for decentralized protocols, most of which do not require know-your-customer (KYC) checks.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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