New Jersey staking returns on Coinbase after lawsuit dropped
New Jersey has formally dropped its staking lawsuit against Coinbase and lifted the cease-and-desist order the state's Bureau of Securities first issued in June 2023 — and Garden State users can now stake again. Coinbase announced that New Jersey residents can earn up to 12% APY staking eligible crypto, marking the return of the program after more than three years of halted rewards.
- Coinbase amplified the news via X from @mollyisonchain, noting users missed millions of dollars in rewards during the suspension
- The original order alleged Coinbase's staking offerings were unregistered securities under New Jersey law and included penalties
- The withdrawal reduces the remaining state enforcement actions against Coinbase's staking after earlier dismissals elsewhere
Sources
- Staking is so back in New Jersey. Garden Staters can now earn up to 12% APY staking eligible crypto on Coinbase. Go ahead, put your crypto to work. https://t.co/O5N6vUBN2Dx.com ↗
- RT @mollyisonchain: Another one. New Jersey has formally dropped its staking lawsuit against Coinbase and lifted its cease-and-desist orde…x.com ↗
