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Solana DeFi protocol Marinade Finance restricts UK access following new FCA rules

Solana-based decentralized finance (DeFi) protocol Marinade Finance has blocked users from the United Kingdom in compliance with the new Financial Conduct Authority (FCA) regulations. Marinade is a staking solution designed for the Solana network. The protocol has around 75,000 users, with the total value of assets locked on it valued at $241 million. This makes it the largest DeFi protocol on Solana, contributing nearly 70% of the total value of assets locked on the blockchain network, according to DeFillama data. The FCA introduced new regulations earlier in the year that govern the promotion of crypto products in the region. Crypto companies like Bybit and PayPal have exited the market.

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