New Jersey drops Coinbase staking order ahead of crypto’s midterm test
Summary
New Jersey has rescinded its 2023 cease-and-desist order against Coinbase’s staking service, lifting the restriction on residents staking new funds and withdrawing a $5 million penalty. The decision was made without ruling on the merits, so regulators may bring a new case. Coinbase said staking access would return soon. Enforcement actions remain active in California, Maryland, Wisconsin and Washington; Coinbase estimates users in California and New Jersey have missed out on more than $104 million in rewards since 2023.
