Uphold Relaunches Crypto Staking Services in the UK

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Uphold’s staking services are now back in the UK, in compliance with a recent regulatory change implemented by the country’s Treasury department.

After halting staking services in the UK and EU last year due to ambiguous regulations, Uphold has now resumed its staking services in the UK.

This move from Uphold comes a year after their initial decision to stop offering staking services in the UK and EU, citing new regulations.

Simon McLoughlin, CEO of Uphold, explained their previous decision, stating that “We stopped offering staking services to UK customers previously because it was a legal gray area.”

The relaunch of staking services in the UK aligns with recent changes in regulations regarding the offering of crypto staking services, specifically with the UK Treasury amending a section of the Financial Services and Markets Act 2000 (FSMA) on Jan. 8. This amendment allows for collective investment schemes or investments, enabling multiple investors to pool their funds.