The Uphold trading platform has announced the relaunch of cryptocurrency staking in the United Kingdom. This decision follows regulatory changes introduced by the UK Treasury, providing clearer guidelines for this service.
What is Staking?
Staking is a process where holders of Proof-of-Stake (PoS) tokens lock their cryptocurrencies for a specific period to support the operation and security of a blockchain network. In return, they receive rewards in the form of additional tokens. This process is similar to a bank deposit – users "freeze" their assets, helping to validate transactions and secure the network while earning passive income.
New Regulations Pave the Way for Staking
After a year-long pause due to regulatory uncertainty surrounding staking in the UK and the European Union, Uphold has decided to resume the service. A key milestone was the amendment to the Financial Services and Markets Act 2000, which came into effect on January 31. This amendment excluded staking from the category of collective investment schemes, removing previous regulatory restrictions on the service.
Simon McLoughlin, CEO of Uphold, emphasized that the new regulations provide companies with clear guidelines, allowing them to legally and transparently offer staking to UK users.
Which Cryptocurrencies Can Be Staked?
UK users of Uphold can now stake popular Proof-of-Stake tokens, including:
✅ Ethereum (ETH)
✅ Solana (SOL)
✅ NEAR
Depending on market conditions, returns can reach up to 14.8% annually.
McLoughlin highlighted that staking is a fundamental feature of many blockchain networks, enabling investors to generate passive income. – "Thanks to the new regulations, we can once again offer this essential tool to our users in the UK and make staking simpler than ever before" – he added.
What About Other Markets?
Despite the return of staking in the UK, the service remains unavailable for users in:
❌ The United States
❌ European Union countries
❌ Canada, Japan, Venezuela, and Singapore
In the U.S., staking was blocked by the SEC, which introduced restrictions on the service in April 2023. As a result, Uphold, like many other platforms, suspended staking for American users.
However, the company plans to reinstate staking in these markets by June 2025, provided regulatory conditions allow it. McLoughlin expressed optimism about the future of cryptocurrency regulations, noting that political changes in the U.S. could create a more crypto-friendly environment. – "2025 could be a breakthrough year. All these regulatory changes point in one direction: a future where financial assets stored and managed on blockchains become the norm" – he concluded.
Uphold – A Global Player in the Crypto Market
Uphold currently operates in over 140 countries, offering users access to over 300 digital assets, including:
✅ cryptocurrencies,
✅ precious metals,
✅ fiat currencies.
The platform follows a 100%+ reserve model, ensuring that all customer funds are fully backed and available for withdrawal at any time.
What’s Next?
The new regulations in the UK could influence policy changes in other countries. The British approach to staking may encourage regulators worldwide to adopt a more flexible stance on this technology. Meanwhile, UK investors can now once again take advantage of staking on Uphold, benefiting from a favorable legal framework.
Could staking soon become a global standard? All signs point to a rapidly evolving future for cryptocurrencies.
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