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The United Kingdom issues a warning for Solana memecoin
The UK Financial Conduct Authority (FCA) has issued a warning about Retardio, a meme coin on the Solana blockchain. Please provide the text to be translated. FCA has advised UK citizens to steer clear of the recently popular NFT-focused memecoin project Retardio. The regulatory body stated that the Solana-based memecoin was operating unauthorizedly in the UK. Please provide the text to be translated In the warning published on December 16, it was reported that the token provided financial services and promotions, but these behaviors were exhibited without obtaining approval from the necessary institutions.
The United Kingdom has put the Solana-based token on its radar
The Financial Conduct Authority (FCA) of the United Kingdom advises citizens to do business with FCA-approved firms.
According to CryptoSlam, the Retardio project has a Solana-based NFT collection that has sold over 30 million dollars. The local token of this collection, RETARDIO, has reached a market value of approximately 85 million dollars.
According to the FCA, UK citizens involved in the Retardio project will not have access to the Financial Ombudsman Service, which is responsible for resolving complaints between consumers and financial service organizations.
FCA noted that users trading on unauthorized platforms will not be protected by the Financial Services Compensation Scheme (FSCS);
“This means that if the company goes bankrupt, the likelihood of getting your money back is low.”
The government agency requested consumers to report unauthorized companies by contacting official channels.
Retardio, responding to FCA in a humorous way, used the following statement;
We issued a warning to the United Kingdom's financial regulator
According to CoinGecko data, RETARDIO fell by 4.3 percent to $0.0895 in the last 24 hours. The popular memecoin recorded a trading volume of 13 million dollars in the last 24 hours.
This article does not contain investment advice or recommendation. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.