UK: FCA Issues public notice against Solana meme coin

Di UK regulator (FCA) don issue warning against di Solana-based meme coin and NFT project Retardio, because say dem dey promote unregulated financial services.

On Monday, di United Kingdom’s Financial Conduct Authority (FCA) com note say di project “no dey authorized.” Authorities don tell users say make dey stop to dey deal with dis firm and make dem dey careful about scammers.”

“Almost all di firms and individuals dem must dey authorized, we need to give dem di authorization to take carry out or promote financial services for di UK.

Dis firm no dey authorized and e no fit dey target pipo for di UK.”

Further, di FCA don caution di users say if tins dey go wrong, di firm no dey fall under di Financial Services Compensation Scheme (FSCS).

Dis mean say e dey unlikely say you go get your money back if di firm go out of business, na so di warning go.

Di warning come as di regulator dey propose new strict crypto regulations to take curb risks within di digital asset space.

Di FCA release discussion paper, planning how dem go take outlaw di public crypto offerings by di non-regulated entities.

Di FCA don dey try to focus more on crypto recently.

Di financial watchdog don onboard plenty crypto staff, wey dey aim to approve more crypto firms afta dem reject around 86% of applicants previously.

Retardio Responds to di FCA Warning With Clown Meme

Di Solana-based Retardio post meme for dia response to di FCA warning, depicting Jeff Bezos in clown dress.

“Di Bezos Cabal send dia regards,” di meme-coin project write. “Oi come get me bruv.”

Though Retardio get limited information regarding di project, him get followership of ova 11,000 members for Telegram.

Di project dey brand dia self as di digital collectible with di Retardio Cousins collection, available for Magic Eden NFT platform.

Further, di Retardio token buoyed following di FCA notice, per data from Dex-Screener.

for similar note, di FCA don ban di meme coin launchpad Pump, wey dem fund early dis month for operating without proper authorization.

Solana

Solana na one of di highly functional open-source project wey dey use blockchain technology to take provide decentralized finance (DeFi) solutions.

E dey well known for him fast transaction speed and minimal fees, wey make am di popular choice for decentralized applications (dApps) and DeFi solutions.

Solana dey use unique Proof of History (PoH) mechanism wey dey set am apart from oda blockchains, wey dey allow for di high-speed and low-cost transactions.

Di Solana ecosystem dey grow rapidly, attracting developers and investors alike, and e dey positioned for substantial growth and widespread adoption

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