Québec Regulator Issues Warning Against Pump.fun

The Autorité des marchés financiers, the securities regulator for Québec, issued a warning on September 25, 2026, stating that Pump.fun is not registered or authorized to solicit investors within the province. The regulator has categorized the platform as a high-risk cryptoasset service.

The Canadian Securities Administrators have also listed the alert, confirming the findings regarding the platform's lack of registration and authorization. This notice serves as a specific regulatory update for residents regarding the platform's status in the region.

The warning is limited in scope and does not include a website ban, an enforcement order, a finding of fraud, or any changes to user wallet access. The regulator's notice is distinct from general fraud-prevention advice and does not imply that any of these separate enforcement actions have taken place.

The AMF advises residents to exercise caution and verify the registration status of any firm or person through its official registers before engaging in business. This guidance is intended to help investors determine if a platform is authorized to operate in the province.

While the platform's own terms of use include warnings regarding the volatility of user-generated digital assets, the regulator's notice focuses specifically on the lack of authorization. The AMF maintains that price risk and regulatory status are separate considerations for potential users.