Cryptocurrency exchange Coinbase has received approval from New York regulators to offer staking services to local residents, allowing them to earn rewards from staking assets like Ethereum and Solana.
The announcement, made via a blog post, praised Governor Kathy Hochul for supporting innovation and regulatory clarity in digital finance. Coinbase noted that it plans to expand staking services across the U.S. following this green light.
The decision follows multiple states dropping lawsuits that accused Coinbase of offering unregistered securities through staking programs. In 2023, about 10 states had filed such cases, but South Carolina, Alabama, Kentucky, Vermont, and Illinois dismissed them earlier this year.
The company emphasized that New Yorkers’ approval signals a broader regulatory shift toward acceptance of staking in the U.S. Coinbase estimates that residents in states still under restrictions have collectively missed out on more than $130 million in staking rewards.
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