Highlights:
- Uphold resumed crypto staking in the UK after regulatory amendments excluded staking from strict investment rules.
- Users can stake ETH, SOL, and NEAR with rewards up to 14.8%, depending on market conditions.
- Kraken also reinstated staking in 39 US states, offering 17 assets post-SEC compliance.
Uphold has restarted crypto staking services in the United Kingdom following an amendment to the Financial Services and Markets Act 2000 by the UK Treasury. The update reclassified crypto staking, removing it from the "collective investment scheme" category, enabling licensed platforms to offer staking with reduced regulatory overhead.
Regulatory Clarity Enables Uphold’s Relaunch
The revised framework provides clear legal guidelines for crypto service providers in the UK. Uphold had previously suspended staking due to regulatory ambiguity but has now reintroduced the service for eligible users.
Uphold CEO Simon McLoughlin endorsed the amendment, emphasizing staking’s role in blockchain security and user rewards.
Staking Options and Rewards
Uphold users can now stake:
- Ethereum (ETH)
- Solana (SOL)
- NEAR Protocol (NEAR)
Rewards vary based on market conditions, with potential yields up to 14.8%. Participants must hold sufficient proof-of-stake tokens to qualify.
👉 Explore Uphold’s staking features
Note: Staking remains unavailable in the U.S. due to SEC regulations. Uphold halted U.S. operations in April 2023 but continues expanding in compliant regions.
Global Staking Landscape
The UK’s regulatory shift may influence other jurisdictions. By streamlining staking regulations, the Treasury aims to attract crypto businesses and foster innovation.
Uphold plans to extend staking services to additional markets in 2025, though restrictions persist in:
- Europe
- Canada
- Japan
- Singapore
Kraken’s Staking Revival
Kraken resumed staking in 39 U.S. states, offering 17 assets, including:
- Ethereum (ETH)
- Solana (SOL)
- Polkadot (DOT)
- Cardano (ADA)
The exchange paused services in 2023 after an SEC settlement but reintroduced them with enhanced compliance measures, including insurance coverage for staking penalties.
FAQ
Why did Uphold resume staking in the UK?
The UK Treasury amended regulations, excluding staking from strict investment rules, allowing platforms like Uphold to relaunch services.
Which cryptocurrencies can I stake on Uphold?
ETH, SOL, and NEAR are currently supported, with rewards up to 14.8%.
Is staking available in the U.S.?
No. Uphold and other platforms restrict U.S. staking due to SEC regulations.
👉 Learn more about crypto staking
Keywords:
- Crypto staking
- Uphold
- UK Treasury amendment
- Ethereum staking
- Kraken staking
- Proof-of-stake
- SEC regulations