Exciting news for crypto enthusiasts in the US! Cryptocurrency exchange Uphold is bringing back its staking services, signaling a significant shift in the regulatory landscape and a more welcoming approach to digital assets.

Following a successful relaunch of crypto staking in the United Kingdom in early February, Uphold is now extending this popular feature to its US users. The company announced this update in a statement shared with Cointelegraph on Monday, March 3rd.

Starting March 3, 2025, Uphold customers across the United States can once again earn staking rewards on a diverse portfolio of 19 crypto assets. This includes prominent names like Ether

, Cosmos, and Polkadot

, with rewards being distributed on a weekly basis in the same cryptocurrency they’ve staked.

Uphold attributes this return to staking services to a perceived easing of crypto regulations in the US. They highlight the Securities and Exchange Commission’s (SEC) recent move to drop several crypto-related cases, including those against Coinbase, a major player in the crypto exchange space.

Uphold CEO Pulled US Staking in 2023 Due to Regulatory Uncertainty

Uphold CEO Simon McLoughlin explained that the decision to previously halt staking in the US was due to a lack of clarity in regulations and what he termed an unpredictable “regulation by enforcement” approach from the SEC under Gary Gensler.

“Looking back to 2023, SEC Chair Gary Gensler expressed concerns that many staking providers weren’t giving customers enough information. This included details on how companies were safeguarding users’ staked assets,” McLoughlin clarified.

The CEO also pointed to significant penalties levied by the SEC related to staking services, notably Kraken’s $30 million fine. These actions led many exchanges to preemptively suspend their staking offerings in the country.

Related: Bybit hack a setback for institutional staking adoption: Everstake exec

“At the time, Uphold, acknowledging ‘the recent SEC guidance on staking,’ proactively chose to discontinue its staking services,” McLoughlin reiterated.

Uphold Welcomes a More Crypto-Friendly Regulatory Stance in the US

According to Uphold’s CEO, the overall legal environment surrounding crypto in the US has “clearly shifted,” particularly with the new presidential administration. He believes a more “common sense” approach to crypto policy is now taking hold in the United States.

“It’s encouraging to see individuals with a genuine understanding of the technology now in influential positions. People like Hester Peirce, leading the SEC crypto task force, and Paul Atkins, potentially the next Chair of the SEC, can really shape the direction of crypto regulations,” McLoughlin stated, adding:

“Staking is absolutely essential to how blockchain networks function and thrive. Users should definitely have the option to participate and benefit from supporting these networks. With the emerging pro-blockchain landscape in the US, we are thrilled to once again offer staking services to our valued US customers.”

McLoughlin also noted that the SEC’s decision to drop the Coinbase lawsuits has also played a role in Uphold’s confidence to bring US staking back online.

Magazine: Is XRP on its way to $3.20? SEC drops Coinbase lawsuit, and more: Hodler’s Digest, Feb. 16 – 22

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