Isn't it restricted?
I mean even the last.fm radio is not gratis let alone streaming tracks or maybe it is using last.fm just for the track names and streaming them from other services like Grooveshark?
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There are plenty of tracks which can be retrieved from last.fm with no restrictions on how many times they can be listened to, or in which territories they may be streamed. There are some which do, but this is handled serverside, so the client doesn't have any say in it.
Your question is a bit unclear -- there are plenty of free tracks on last.fm, and the service is free. So to answer your query -- no, it is not restricted in a lot of cases, and when it is, the client is blocked.