Crypto exchange Uphold has resumed staking services in the UK following recent regulatory changes.
Following a change in UK Treasury legislation that came into effect on January 31, the company announced on February 2 that staking has relaunched in compliance with the new rules.
The relaunch comes after Uphold suspended staking for UK and EU customers a year earlier, citing regulatory changes. Uphold CEO Simon McLoughlin said staking services were halted due to uncertainty in the legal landscape.
The decision to resume staking in the UK comes at a time when there have been revisions to financial policies regarding the offering of staking services for cryptocurrencies in the country.
Specifically, the UK Treasury introduced changes to the Financial Services and Markets Act 2000 on January 8, allowing collective investment schemes or investments, in which multiple investors can contribute their funds.