Uphold Resumes Crypto Staking in UK
Uphold has begun offering staking services in the United Kingdom after recent regulatory changes. On February 2, 2025, the company announced that staking services, which had been discontinued a year ago due to regulatory uncertainties, were now available again in compliance with a UK Treasury amendment that took effect on January 31.
As Uphold CEO Simon McLoughlin states, the decision to cease staking services in the UK and European Union was due to unclear regulations.
However, recent changes to financial policies have paved the way for the company to relaunch these services. One of the key developments that contributed to this decision was the UK Treasury’s amendment to the Financial Services and Markets Act 2000 (FSMA) on January 8, 2025. This amendment clarified that arrangements for qualifying crypto asset staking do not fall under the category of a collective investment scheme.
This is significant because collective investments, such as stocks, bonds, and exchange-traded funds, are subject to strict regulations due to their complexity. By distinguishing crypto staking from these arrangements, the Treasury has allowed platforms like Uphold to resume their services.
