News on January 10, according to CryptoSlate, the UK Treasury has revised the Financial Services and Markets Act (FSMA), which will come into effect on January 31, excluding cryptocurrency pledges from the classification of collective investment schemes. outside. Under this change, staking ETH and SOL will only be considered a blockchain verification process and will no longer be subject to the regulatory requirements applicable to collective investment schemes. Previously, due to vague regulatory definitions, pledges were at risk of being classified as traditional collective investment vehicles, which were subject to more stringent FSMA regulations. The amendments clarify that staking, which involves participants locking cryptocurrency to verify blockchain transactions and ensure network security, is inherently different from collective investment schemes and requires a tailored regulatory framework. Bill Hughes, a lawyer at ConsenSys, welcomed the move as an important step for the industry and stressed that UK law has traditionally taken a tough regulatory approach to collective investment schemes, which could hinder industry development. Notably, the move is consistent with the UK’s wider strategy to promote innovation in the cryptocurrency space while maintaining appropriate regulation to protect market participants.