Basri Caneri 
Cryptocurrency exchange Uphold announced that it has re-launched its staking services in the US, which it stopped in 2023 due to regulatory uncertainty. The company stated that it took this step as the regulatory environment in the US has evolved in a crypto-friendly direction and the pressure from the Securities and Exchange Commission (SEC) has eased.
US Users Can Earn Stake Rewards Again
According to Uphold’s announcement, as of March 3, 2025, users in the US will be able to earn rewards by staking on 19 different cryptocurrencies, including Ether (ETH), Cosmos (ATOM) and Polkadot (DOT). Users will receive weekly staking rewards directly in the cryptocurrency they stake.
The move coincides with the SEC withdrawing its lawsuits against major crypto companies such as Coinbase. This development is seen as a strong sign that the crackdown on the crypto sector in the US is easing.
Why Uphold Stopped Stake Services in 2023
Uphold CEO Simon McLoughlin stated that the main reason for the suspension of staking services in 2023 was that the SEC acted through enforcement rather than clear regulation.
SEC Chairman Gary Gensler took tough action against exchanges at the time, arguing that many staking services were not transparent about how user funds were protected.
In particular, Kraken was fined $30 million for its staking services, prompting many platforms to halt their staking programs. Uphold also suspended its staking services, stating that it could not ignore the SEC’s stance.
Crypto Policy is Changing in the US: Is the New Era Beginning?
Uphold’s reinstatement of staking services is considered a strong signal that the regulatory environment in the US is softening. CEO McLoughlin emphasized that the US has adopted a more open and technology-friendly approach to crypto assets with the new administration.
In particular:
- Easing the SEC’s crackdown on the crypto sector,
- Hester Peirce is one of the names within the SEC that supports crypto-friendly policies,
- Paul Atkins’ appointment as SEC Chairman is on the agenda,
such developments have raised hopes that crypto regulations in the US will now take shape with a more logical and forward-looking approach.
McLoughlin stated that staking plays an important role in the blockchain ecosystem and said, “We are pleased to reintroduce our staking services as a new environment supporting blockchain technology is emerging in the US.”
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