Cryptocurrency trading platform Uphold has relaunched staking services in the United Kingdom following new regulatory developments from the UK Treasury, which enabled this resumption on January 31. Uphold had previously halted staking services in the UK and EU due to legal uncertainties regarding regulations. The UK Treasury's amendment clarified that qualifying crypto asset staking arrangements do not constitute collective investment schemes, which are subject to stricter regulations. The CEO of Uphold, Simon McLoughlin, welcomed these changes, stating they provide certainty for regulated providers. Although staking has resumed in the UK, Uphold plans to expand to the US and Europe by mid-2025, yet services remain unavailable in several regions including Canada, Japan, and Singapore. McLoughlin expressed optimism for the future of staking, linking it to broader adoption of blockchain technology and favorable regulatory environments.

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