Top Solana protocols geofence UK users amid regulatory uncertainty

Reports emerged that Solana LSP Marinade Finance and Solana-based DEX Orca Finance had both geoblocked UK users

article-image

DIAMOND VISUALS/Shutterstock modified by Blockworks

share

Two of the largest and most structurally important Solana DeFi protocol frontends have geofenced UK users.

The developments come amid continued uncertainty regarding the regulatory requirements of the UK Financial Conduct Authority (FCA), the country’s finance markets regulator. 

Frontends are web portals commonly used to interact with DeFi protocols, and are often maintained by the protocol development teams. In recent months, frontends have become a focal point for crypto regulation — and the geofencing moves highlight how they may act as a point of centralization for the industry. 

Reports emerged on Monday that Solana liquid staking provider Marinade Finance and Solana-based DEX Orca Finance had both geoblocked UK users. The blocks were first reported by CoinDesk. 

Using a VPN, Blockworks attempted to access Marinade Finance from a UK IP address, and was met with a message saying “Access to this site is unavailable in the United Kingdom due to compliance concerns relating to rules and regulations promulgated by the UK Finance Conduct Authority.” 

The text went on to note that users could still “withdraw liquidity, claim delayed tickets or delay unstake” using the protocols SDK. 

When attempting to access Orca Finance’s site, Blockworks encountered an identical message. 

According to data from DeFiLlama, Solana accounts for $1.2 billion in total value locked (TVL). Marinade Finance, Solana’s largest liquid staking project, has $243 million in TVL, while Orca, the chain’s largest DEX, has $48.5 million in TVL. 

Binance UK announced last week that it would stop accepting new customers, citing FCA warnings issued to a partner firm. Additionally, earlier in October the FCA issued warnings to 146 unregistered crypto firms regarding new promotional and advertising rules

The FCA said in February that roughly 15% of applicant firms are successful in registering. 

Orca and Marinade are not the only protocols to geofence specific user populations in recent months. 

Celestia announced in September that Americans would be banned from claiming the project’s TIA token, and dapps such as 1inch have geofenced American users since as far back as 2021. 


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Brooklyn, NY

SUN - MON, JUN. 22 - 23, 2025

Blockworks and Cracked Labs are teaming up for the third installment of the Permissionless Hackathon, happening June 22–23, 2025 in Brooklyn, NY. This is a 36-hour IRL builder sprint where developers, designers, and creatives ship real projects solving real problems across […]

recent research

Nillion_DeSci_Report_Template.png

Research

Nillion’s Monad Integration is poised to catalyze the next phase of DeSci’s evolution by eliminating key privacy bottlenecks. This synergy allows researchers, institutions, and DAOs to exchange sensitive data and insights securely while managing governance and payments onchain.

article-image

Celebrating the wisdom of a diamond-handed Bitcoin Legend

article-image

With the success of RWAs and stablecoins, DePINs could onboard the next wave of crypto users

article-image

Is crypto straying too far from things of value?

article-image

Firedancer and Solana ETFs look less significant than before

article-image

The newly passed House bill amplifies that strategic pivot for the Trump administration, from attempting austerity to running the economy hot

article-image

Unable to secure further funding, the game cycled through three different blockchains and at least five different game engines since 2018