YEREVAN (CoinChapter.com) — Uphold has resumed crypto staking services in the United Kingdom after new regulatory changes clarified its legal status. The platform previously suspended staking in the UK and the European Union, citing uncertainty in crypto regulations.
On Jan. 31, 2025, an amendment to the Financial Services and Markets Act 2000 (FSMA) took effect, confirming that crypto staking does not fall under collective investment schemes. The update allowed Uphold to restart staking services in compliance with UK laws.
Simon McLoughlin, CEO of Uphold, stated that the previous regulatory framework created uncertainty, preventing staking services. The recent amendment provides clarity for crypto platforms, ensuring compliance while enabling users to access staking rewards.
UK Treasury’s New Policy Clears Staking Uncertainty
The UK Treasury updated financial regulations on Jan. 8, 2025, altering how crypto investments are classified. The amendment confirmed that staking services are not part of collective investment schemes, which face stricter financial regulations.
An excerpt from the UK Treasury’s 2025 No. 17 order. Source: Gov.ukPreviously, crypto staking was grouped with stocks, bonds, and exchange-traded funds (ETFs) under FSMA, leading to additional regulatory requirements. The amendment removed staking services from this category, reducing legal barriers for crypto platforms like Uphold.
The change follows growing discussions around crypto regulations, as authorities continue addressing digital asset services. With the update, staking platforms in the UK can now operate under a clearer framework, avoiding previous legal uncertainty.
Uphold Staking Remains Unavailable in US and Europe
Despite resuming staking services in the UK, Uphold has yet to relaunch staking in the United States or Europe. According to McLoughlin, the company expects to reintroduce staking in these regions by June 2025.
As of Feb. 3, 2025, Uphold does not offer staking services in Canada, Japan, Venezuela, Singapore, and other restricted jurisdictions. The company’s support page lists these areas as places where staking services remain unavailable due to regulatory challenges.
Uphold Staking Availability – Uphold does not offer staking services in the US, Canada, Europe, Japan, Venezuela or Singapore. Source: Uphold SupportMcLoughlin stated that staking plays a key role in blockchain networks, enabling participants to earn rewards for validating transactions. He noted that crypto platforms are monitoring regulatory updates to expand staking services where legal conditions allow.
Global Crypto Regulations Continue to Evolve
With the UK Treasury’s legal update, discussions around crypto regulations are ongoing. Industry participants are observing how different jurisdictions approach staking services and other crypto-related activities.
As regulatory frameworks develop, crypto firms will continue adapting to ensure compliance while expanding staking services in permitted regions.
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