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Reportedly, the largest DeFi protocol on Solana leaves the UK market because to an FCA restriction.

In the realm of content creation, there are three pivotal elements to consider: “perplexity,” “burstiness,” and “predictability.” Perplexity gauges the intricacy of the text, while burstiness evaluates the diversity of sentence structures. Predictability, on the other hand, assesses the likelihood of predicting the subsequent sentence. Humans tend to craft content with a blend of varied sentence lengths and complexities, introducing both longer, intricate sentences and shorter ones. In contrast, AI-generated sentences often display a higher degree of uniformity.

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Marinade Finance, the preeminent decentralized finance (DeFi) protocol operating on the Solana blockchain, currently boasts a staggering total value locked in excess of $265 million. Remarkably, this comprises a significant 70% of all the funds locked within the Solana blockchain ecosystem.

Surprisingly, Marinade Finance, with its prominent stature, has recently initiated measures to prohibit users hailing from the United Kingdom from accessing their services. This development came to the fore on October 23, when residents of the U.K. encountered an unexpected hurdle while attempting to visit Marinade’s website from local IP addresses. They were met with the following message:

“Access to this site is unavailable in the United Kingdom due to compliance concerns relating to rules and regulations promulgated by the U.K. Finance [sic] Conduct Authority. Users may withdraw liquidity, claim delayed tickets, or delay unstake via our SDK.”

Marinade Finance commands an impressive user base, numbering around 75,000 users, and astonishingly, they have a staggering total value locked, exceeding $265 million at the time of this composition. This extraordinary sum accounts for an astonishing 70% of the entire wealth immobilized within the Solana blockchain, a remarkable feat that underscores the protocol’s significance.

Interestingly, the message from Marinade does not explicitly elucidate the nature of these regulations. Notably, Marinade is not the solitary entity to relinquish its presence in the U.K. market in recent times. On October 16, Binance, a prominent crypto exchange, ceased onboarding users from the U.K., citing concerns related to certification matters with its local business partner. Additionally, well-known financial services provider PayPal has halted cryptocurrency transactions for its U.K. clientele, a move that aligns with similar actions taken by Bybit in late September.

A pivotal moment in this unfolding narrative transpired on October 8 when the U.K. Financial Conduct Authority (FCA) introduced the Financial Promotions (FinProm) Regime. This regime seeks to enforce principles of “fair, clean, and transparent” advertising within the crypto industry. Notably, several cryptocurrency firms, including OKX and MoonPay, have already made their commitment to complying with the FCA’s rules publicly known.

In an effort to glean further insights into this intriguing development, Cointelegraph reached out to Marinade Finance for additional information. Regrettably, as of now, no immediate response has been received from the organization.

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