Crypto broker Uphold relaunches staking in the UK
Uphold has resumed its staking services in the UK after regulatory changes emerged from the UK Treasury. The relaunch follows a year-long halt due to previous regulations that created uncertainty for staking services in the region. Effective January 31, amendments to the Financial Services and Markets Act (FSMA) clarified that staking arrangements do not qualify as collective investment schemes, allowing platforms like Uphold to offer such services again. The CEO of Uphold, Simon McLoughlin, expressed optimism over the changes, highlighting that they provide certainty for regulated service providers. Although staking is now available in the UK, Uphold's services are still not accessible in the US, Europe, Canada, Japan, Venezuela, and Singapore. However, the company anticipates reintroducing staking in these regions by June 2025. McLoughlin noted that staking is foundational for many blockchains and is a step toward making blockchain technology more mainstream, especially under a potentially crypto-friendly administration in the US.
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