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

Research Report Templates.png

Research

Maple Finance has successfully navigated significant market challenges through its strategic pivot to secured lending (Maple v2) and the launch of its Syrup product. Syrup has become a primary growth driver, delivering sustainable, outperforming stablecoin yields and rapidly increasing TVL. The upcoming custody-first Bitcoin staking product (istBTC) presents another significant avenue for expansion. Crucially, Maple has achieved operational profitability, a key inflection point that, combined with a fully vested token and active buyback mechanism, strengthens its investment case. While valuation metrics suggest potential undervaluation relative to peers and growth, the primary forward-looking risk identified is the long-term sustainability of its current high-take-rate collateral staking revenue model.

article-image

In 2014, Microsoft virus scanners were detecting viruses in Bitcoin software

article-image

Ledn’s Mauricio Di Bartolomeo explained how this cycle’s been different for the lender

article-image

The shorts looking for funding range from charming animated series to gritty live-action dramas

article-image

Money, it turns out, is emergent, like consciousness

article-image

Bridge flows churn in both directions as risk appetite returns