Uphold Resumes Crypto Staking Services in the UK Following Regulatory Clarity
Cryptocurrency trading platform Uphold has officially reinstated its staking services in the United Kingdom, aligning with recent regulatory changes introduced by the UK Treasury. The company confirmed the relaunch in a statement shared with Cointelegraph on February 2.
Regulatory Clarity Paves the Way for Staking Return
This marks a significant shift for Uphold, which had previously suspended staking services in both the UK and the European Union, citing uncertainty surrounding regulatory frameworks.
“We stopped offering staking services to UK customers previously because it was a legal gray area,” explained Uphold CEO Simon McLoughlin.
The UK Treasury’s recent decision to amend the Financial Services and Markets Act 2000 (FSMA) on January 8 played a key role in Uphold’s return to the market. The amendment clarified that staking arrangements for qualifying crypto assets do not constitute collective investment schemes, removing them from the stricter regulatory oversight typically applied to traditional investment vehicles such as stocks, bonds, and ETFs.
With these new rules taking effect on January 31, regulated crypto platforms like Uphold now have the necessary legal framework to offer staking services to UK customers once again.
“This amendment provides welcome certainty and clears the way for regulated crypto service providers to offer staking services to UK customers,” McLoughlin noted.
Plans for Expansion: Staking Set to Return to the US and Europe by Mid-2025
While the resumption of staking in the UK is a major milestone, Uphold’s staking services remain unavailable in multiple jurisdictions, including the United States, Europe, Canada, Japan, Venezuela, and Singapore.
However, McLoughlin expressed confidence in Uphold’s expansion plans, revealing that the company aims to reintroduce staking in the US and Europe by mid-2025.
“Staking is a foundational activity in many blockchains, and it’s encouraging to witness regulators now making it possible for ordinary people to earn rewards for participating in this new technology,” he stated.
Looking ahead, McLoughlin remains optimistic about the future of crypto regulation, particularly in the US.
“With a crypto-friendly administration in the US, 2025 looks like a year we could see great progress. All these regulatory developments point to the same destination—a world where financial assets stored and managed on blockchains become mainstream activities.”
As global regulatory landscapes continue to evolve, Uphold’s move signals a positive shift for the crypto industry, providing greater accessibility and legitimacy for staking as a mainstream financial service.
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