Coinbase staking returns to New Jersey after lawsuit
4.7 Regulation New Jersey dropped its lawsuit and lifted restrictions on Coinbase staking, allowing residents to soon resume staking. The pause cost users an estimated $15 million in missed rewards.
New Jersey has dropped its lawsuit and lifted restrictions on Coinbase’s staking service, allowing residents to soon resume staking after being locked out since June 2023. The pause is estimated to have cost New Jersey users at least $15 million in missed rewards. The state also withdrew a $5 million penalty against Coinbase, though the company has not provided a specific date for when staking will be fully restored. Previously, existing customers could continue earning rewards on already staked assets, but new staking was restricted. Coinbase has announced that staking services will return soon, calling it a significant development for both the company and its users. The broader impact of similar restrictions in other states is estimated to exceed $110 million in missed rewards. The reinstatement of staking services is expected to boost user engagement and demonstrates Coinbase’s ongoing efforts to navigate regulatory challenges.
