Uphold noted that from March 3, U.S users can receive staking benefits on supported assets.
Uphold noted that a change in the US regulatory scene was behind this move.
From March 3, U.S users can receive staking benefits on supported assets. Interestingly, Uphold has also relaunched its staking services for UK users. The exchange appears comfortable with the evolving pace of crypto regulations.
In the US, for example, crypto regulations have taken a softer approach. The SEC, which was behind multiple enforcement actions against crypto firms, has now embraced a more progressive stance. The agency has also dropped several cases against crypto firms.
President Trump has also identified a crypto reserve as a priority. These are all welcomed developments for crypto enthusiasts. Under the Biden administration, crypto firms struggled due to the lack of regulatory clarity.
Platforms like Uphold halted their staking services to avoid breaking US laws. Uphold CEO Simon McLoughlin said of the regulatory climate in the U.S, “Back in 2023, SEC Chair Gary Gensler said that most staking providers failed to provide customers with proper disclosures, such as how a company is protecting a user’s staked assets.”
Now, Uphold believes the environment has shifted in favor of digital assets. According to McLoughlin, changes in US leadership have brought a more balanced approach to crypto policy. He highlighted key figures such as SEC Commissioner Hester Peirce and former SEC official Paul Atkins as playing huge roles in shaping a more informed stance on crypto regulation.
He said, “Staking is a vital part of blockchain governance and economy. Users should be able to support this activity and earn from that support. And with the new blockchain-forward environment in the US, we’re delighted to offer staking services to our US customers once again.”
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