Tulip Siddiq, the U.K. Treasury Minister and a strong advocate for crypto regulation, has resigned amid allegations related to an anti-corruption investigation in Bangladesh. Her departure raises concerns about the future of digital asset regulations, although the government is expected to continue its plans for comprehensive regulations by early 2025, as the number of U.K. adults owning crypto has risen to 12%.
about Resignation of Pro-Crypto Minister Raises Questions on UK Digital Asset RegulationsTulip Siddiq
0 posts last weekUK Treasury Confirms Crypto Staking Is Not a Collective Investment Scheme
The UK Treasury has confirmed that crypto staking is not classified as a collective investment scheme, such as ETFs, providing regulatory clarity for blockchain validators. This decision, effective January 31, 2025, is part of the UK’s initiative to establish a balanced framework for crypto, addressing various aspects including stablecoins and NFTs. Economic Secretary Tulip Siddiq emphasized that staking services should not be regulated like investment funds, highlighting the focus on network security rather than profit generation.
about UK Treasury Confirms Crypto Staking Is Not a Collective Investment SchemeUK Treasury Clarifies Staking as Cybersecurity Not Investment Scheme
The UK Treasury has clarified that crypto staking is not classified as a collective investment scheme, effective January 31, 2025, emphasizing its role in network security rather than income generation. This move paves the way for a more crypto-friendly regulatory framework, expected in Q1 2025, which will cover digital assets, including stablecoins and trading. As the UK embraces innovation, investors are encouraged to explore high-yield staking opportunities, such as the Meme Index, which offers a 1,077% APY.
about UK Treasury Clarifies Staking as Cybersecurity Not Investment SchemeUK Clarifies Crypto Staking is Not a Collective Investment Scheme
The UK Treasury has clarified that crypto staking, essential for proof-of-stake blockchains like Ethereum and Solana, is not classified as a collective investment scheme (CIS), which is subject to strict regulation. This amendment to The Financial Services and Markets Act 2000 will take effect on January 31, allowing users to validate transactions and earn tokens without the heavy regulatory burden typically associated with CIS. Economic Secretary Tulip Siddiq emphasized the need to remove legal uncertainties surrounding staking services, aligning with the local crypto industry’s requests.
about UK Clarifies Crypto Staking is Not a Collective Investment Scheme