On February 3, 2025, cryptocurrency trading platform Uphold announced the relaunch of its staking services in the United Kingdom, following a regulatory amendment by the UK Treasury that took effect on January 31. This marks a significant shift after a year-long suspension of staking services in the UK and EU due to legal uncertainties.
The UK Treasury recently revised the Financial Services and Markets Act 2000, clarifying that crypto asset staking does not constitute a collective investment scheme, thus easing regulatory burdens. Uphold's CEO, Simon McLoughlin, highlighted that this change provides certainty for regulated crypto service providers.
Uphold plans to expand its staking services to Europe and the US by mid-2025, aiming to enhance accessibility for users in these regions. McLoughlin expressed optimism regarding future regulatory developments, suggesting that a crypto-friendly environment could lead to significant advancements in the staking landscape.