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Uphold resumes staking in the UK post-regulatory changes, India signals a potential crypto policy shift and Kraken prepares to delist USDT in Europe.
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Cryptocurrency trading platform Uphold restarted staking services in the United Kingdom following local regulatory developments.
Uphold has relaunched staking in compliance with a UK Treasury amendment that came into force on Jan. 31, the company said in an announcement shared with Cointelegraph on Feb. 3.
The relaunch comes a year after Uphold notified its users that it would no longer offer staking in the UK and the European Union, reportedly citing new regulations.
India may change crypto policy due to international adoption: report
The Indian government, which has historically been opposed to crypto, is reviewing its regulatory policy in response to adoption by other nation-states.
According to Reuters, India’s economic affairs secretary, Ajay Seth, said digital assets “Don’t believe in borders,” signaling that India does not want to get left behind in the digital asset revolution.
News of a potential policy shift came amid a new tax of up to 70% on previously undisclosed crypto gains as part of India’s Income Tax Act.
Kraken to delist Tether USDt, 4 other stablecoins in Europe
Cryptocurrency exchange Kraken is moving to comply with European crypto regulations by preparing to delist five stablecoins, including Tether’s USDt.
Kraken will fully delist USDt (USDT) on March 31 to comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA), according to an announcement by the exchange.
Alongside USDT, the exchange will gradually remove support for PayPal USD (PYUSD), Tether EURt (EURT), TrueUSD (TUSD) and TerraClassicUSD (UST) in the European market.
“These changes ultimately ensure Kraken remains compliant and is able to provide its exceptional trading experience to European clients for the long term,” the company said.
LayerZero CEO announces settlement with FTX estate
Bryan Pellegrino, co-founder and CEO of crosschain protocol LayerZero Labs, said the firm had reached an agreement with FTX involving transactions in 2022 with Alameda Research’s venture capital arm, Alameda Ventures.
“Ultimately, we decided this was not us vs FTX, which is a fight we feel completely justified in, but it was us vs the creditors (which also we are one of),” said the LayerZero CEO. “Original repurchase has been returned to the estate.”
In 2022, transaction records showed Alameda sent $70 million to LayerZero and bought $25 million worth of STG tokens.
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This article first appeared at Cointelegraph.com News
