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Uphold Staking Returns to the UK After Legal Update
In a significant move, Uphold has resumed its crypto staking services in the United Kingdom following new regulatory changes. The platform had previously suspended staking operations in the country due to uncertainty surrounding the laws and regulations governing such activities.
As of February 4, Uphold is now able to restart staking services in compliance with UK laws, ensuring that users can once again participate in this popular cryptocurrency activity. In a statement, Simon McLoughlin, CEO of Uphold, emphasized the importance of regulatory clarity for the continued growth and adoption of crypto staking.
The company had initially suspended its staking services in the United Kingdom due to uncertainty surrounding the Financial Services and Markets Act 2000 (FSMA). The previous regulatory framework had grouped staking with other investment products such as stocks, bonds, and exchange-traded funds (ETFs), resulting in additional legal requirements for crypto platforms.
Source: coinchapter.com
