New Jersey Ends Coinbase Staking Ban After 3 Years: Which States Are Next?

New Jersey's securities regulator on October 30 rescinded its 2023 order against Coinbase, eliminating a $5 million penalty and a ban that had stopped residents from staking new funds on the exchange. The rescission was without prejudice, so the state can still bring a new case. In June 2023, the Bureau of Securities called Coinbase's staking service an unregistered security, meaning it had not been registered with the state; 145,270 New Jersey residents used it then, and Coinbase halted staking in four states weeks later. Staking involves locking coins to help run a blockchain in exchange for tokens. The new order, signed by Acting Bureau Chief Keith A.