🔸 The UK Treasury, by amending the Financial Services and Markets Act, has removed cryptocurrency staking from the category of collective investment schemes as of January 31.
🔸 The legal change, which is part of the government’s plan to support innovation in the cryptocurrency space, recognises Ethereum (ETH) and Solana (SOL) as blockchain validation processes.
Consensys attorney Bill Hughes welcomed the move, stressing that blockchain is not an investment scheme, but a form of cybersecurity.
🔸 The decision, which is in line with the UK’s broader strategy to strengthen the cryptocurrency sector, provides legal clarity for businesses and individuals active in the staking space.
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