TL;DR
- Uphold has relaunched staking in the U.S., allowing users to earn rewards in 19 cryptocurrencies after suspending the service in 2023 due to regulatory uncertainty.
- Starting March 3, 2025, users can receive weekly rewards in cryptocurrencies like Ethereum (ETH), Cosmos (ATOM), and Polkadot (DOT).
- The relaunch of staking is in response to a shift in the SEC’s stance with the arrival of new regulators who promote a better understanding of blockchain technology.
Uphold has relaunched its staking services in the United States, allowing users to once again earn rewards by holding assets in 19 cryptocurrencies. This decision comes after the pause set in 2023 when the platform suspended the service due to a lack of regulatory clarity and the strict measures taken by the Securities and Exchange Commission (SEC).
On March 3, 2025, Uphold reactivated staking in the U.S., allowing users to earn rewards in cryptocurrencies such as Ethereum (ETH), Cosmos (ATOM), and Polkadot (DOT), among others. Rewards are distributed weekly in the same cryptocurrencies that users have staked. This change reflects a more favorable regulatory climate for the crypto market in the country, following the withdrawal of several cases by the SEC, including lawsuits against Coinbase.
Uphold Responds to the New SEC Leadership
Uphold’s CEO, Simon McLoughlin, explained that the company had suspended staking services due to the lack of clear regulations and what he considered the SEC’s “regulation by enforcement” policy, led by Gary Gensler. The SEC’s stance led to sanctions on other exchanges, such as Kraken, which was fined $30 million for its staking offering. In 2023, Uphold, like others, decided to cease its staking services, citing regulatory ambiguity.
However, with the arrival of new regulators such as Hester Peirce and Paul Atkins, who have a better understanding of blockchain technology, the situation has changed. McLoughlin celebrated this shift in regulatory approach, which has allowed Uphold to resume its staking services. He emphasized that staking is a vital part of blockchain governance and economy, and users should be able to support these activities and earn rewards for doing so.
The return of staking by Uphold in the U.S. is crucial for the platform, which expects to continue adapting to new regulations and offer more services within the crypto ecosystem
