The United Kingdom’s Financial Conduct Authority (FCA) has issued a warning that Retardio, a grossly offensive Solana-based memecoin and NFT project, “is not authorised” by the regulator.
Retardio responded by posting a meme that depicts Jeff Bezos in clown makeup.
It appears that the token has no reason to exist except to allow a contingent of Solana-based cryptocurrency traders an asset on which to speculate.
Following the announcement from the FCA, the token’s price was buoyed, according to data from DexScreener. The total market capitalization for the project has again breached $100 million.
The FCA has been trying to focus more on crypto, asking today for industry feedback on its new discussion paper looking at regulations for the space.
Read more: TikTok accused of operating as crypto exchange in the UK, report
Additionally, the FCA has grown its cryptocurrency-focused staff this year. Its number has now reportedly reached triple digits and its fastest-growing team is the the policy team.
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