eToro to stop providing new UK clients with staking rewards
Online broker eToro has provided an important update to its UK clients.
Following discussions with the UK Financial Conduct Authority (FCA), eToro UK will no longer be able to provide new UK users with staking rewards. All other users are unaffected.
‘New’ UK clients are defined by the registration dates as follows:
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UK residents that registered with eToro’s UK entity (eToro UK) on or after February 1, 2022 will not receive staking rewards for $ETH (ETH 2.0 Staking)
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For those registering after February 8, 2022, this will also apply to staking rewards for $TRX and $ADA
eToro explains that it has worked hard to apply these changes to ensure that its clients are treated fairly and able to benefit from a continuing service. eToro says it will only stake assets where the user is eligible to receive the staking rewards. There is no ‘last staking distribution’ as existing users will continue to receive staking rewards as before and ‘new’ UK users will not receive any staking rewards.
Eligibility is determined by the registration date and not the status of the account.
