英國財政部的結論是，代幣質押不符合集體投資的資格。

根據 Cointelegraph 9 日（當地時間）報道，英國財政部透過金融法修正案明確規定虛擬資產質押需要

The UK Treasury has decided that coin staking is not a collective investment.

英國財政部決定，代幣質押並非集體投資。

On the 9th (local time), Cointelegraph reported that the UK Treasury specified through a financial law amendment that virtual asset staking, which is required for proof-of-stake (PoS) blockchains such as Ethereum (ETH) and Solana (SOL), is not included in collective investment.

當地時間 9 日，Cointelegraph 報道稱，英國財政部通過一項金融法修正案規定，以太坊（ETH）和 Solana（SOL）等權益證明（PoS）區塊鏈所需的虛擬資產質押，不納入集體投資。

As the UK has proactively recognized staking as a blockchain verification process, attention is focused on whether the United States will follow the UK's precedent.

由於英國已主動承認質押作為區塊鏈驗證流程，人們關注的焦點是美國是否會效法英國的先例。

The United States Securities and Exchange Commission (SEC) considered staking as a collective investment, such as fund sales, based on the fact that investors' virtual assets are pooled together with those of other investors.

美國證券交易委員會 (SEC) 考慮將 Stake 視為一種集體投資，例如基金銷售，因為投資者的虛擬資產與其他投資者的虛擬資產匯集在一起。

According to this, the SEC imposed an immediate service suspension and a $30 million fine on the virtual asset exchange Kraken for 'unregistered sales' while operating staking services. Since staking is considered a fund, it is judged that financial authority reporting and regulatory compliance are essential.

據此，美國證券交易委員會（SEC）對虛擬資產交易所Kraken在營運質押服務時因「未註冊銷售」而立即暫停服務並處以3000萬美元罰款。由於質押被視為一種基金，因此金融機構報告和監管合規性至關重要。

In the United States, the staking function has also been removed from the Ethereum spot ETF. The SEC interpreted staking as having securities characteristics and demanded the removal of staking-related content as a condition for approving the Ethereum spot ETF.

在美國，以太坊現貨ETF也取消了質押功能。 SEC將質押解釋為具有證券特徵，並要求刪除與質押相關的內容作為批准以太坊現貨ETF的條件。