Uphold Resumes Staking in the UK Following Changes in Law
Date: 2025-02-04 Author: Henry Casey Categories: BUSINESS
According to the Uphold team, crypto staking is now available exclusively to UK residents and will not apply to other regions. This is due to the latest changes to the Financial Services and Markets Act 2000 (FSMA), which were approved on January 31. The UK Treasury clarified that staking for proof-of-stake blockchains such as Ethereum and Solana is no longer part of "collective investment schemes" in which participants can earn profits or income. This decision paved the way for the resumption of crypto staking in the UK.
In addition, at the end of January, cryptocurrency exchange Kraken also announced the resumption of its staking services for users in 37 US states. Kraken customers can now stake 17 different cryptocurrencies, including ETH, SOL, DOT, and ADA.
These moves are part of a broader effort to expand and regulate cryptocurrency services internationally, particularly in countries with strict regulatory requirements, such as the UK and US.
