Uphold, a leading digital currency platform, has announced the resumption of staking services in the United Kingdom following recent regulatory changes. This move comes as a relief to UK customers who were previously unable to participate in staking due to regulatory uncertainties.

Staking, also known as proof-of-stake, is a process where users lock up their digital assets to support the operations of a blockchain network and earn rewards in return. Uphold offers staking services for various cryptocurrencies, including Ethereum, Tezos, and Cosmos.

The UK Financial Conduct Authority (FCA) recently implemented new regulations for the cryptocurrency industry, requiring all crypto businesses to register with the agency and comply with anti-money laundering and counter-terrorism financing measures. Uphold has successfully registered with the FCA, allowing them to resume staking services for UK customers.

In other news, India, one of the world’s largest economies, has signaled a potential shift in its stance towards cryptocurrencies. The country’s finance minister, Nirmala Sitharaman, stated that the government is open to exploring the use of blockchain technology and digital currencies in a “calibrated” manner. This statement comes as a surprise to many, as India has previously taken a hard stance against cryptocurrencies, even considering a ban on their use.

Meanwhile, Kraken, a popular cryptocurrency exchange, has announced its plans to delist Tether (USDT) in Europe. USDT is a stablecoin that is pegged to the US dollar and is widely used in the crypto market. Kraken cited regulatory concerns as the reason for the delisting, as USDT has faced scrutiny for its lack of transparency and potential market manipulation.

These recent developments in the cryptocurrency industry highlight the growing importance of regulatory compliance and the need for clear guidelines from governments. Uphold’s resumption of staking services in the UK, India’s potential policy shift, and Kraken’s delisting of USDT all demonstrate the impact of regulatory changes on the crypto market. As the industry continues to evolve, it is crucial for businesses and governments to work together to create a safe and transparent environment for the use of digital currencies.