Uphold Resumes UK Crypto Staking After Regulatory Clarity

Crypto broker Uphold has resumed its crypto staking services in the UK following a regulatory update that exempts crypto staking from the "collective investment scheme" category. The move, effective January 31, provides clarity for registered crypto-asset service providers to offer staking services in the UK market, allowing users to earn rewards for supporting blockchain networks.

Uphold customers can now stake digital assets including ETH, SOL, and NEAR, with some tokens offering returns up to 14.8% based on market conditions. Simon McLoughlin, CEO of Uphold, stated, "Staking is an inherent function of many blockchains. It creates a legitimate way for crypto holders to put their assets to work while supporting the validation process of a blockchain."

The company had previously suspended staking services in the UK and the European Union due to regulatory uncertainty. However, with the recent regulatory clarification, Uphold has reopened crypto staking in the UK. The service is available through Uphold's platform, which operates in more than 140 countries.

Uphold plans to relaunch staking services in Europe and the US by June 2025, pending regulatory approval. McLoughlin expressed optimism about the future of staking, stating, "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."