New Jersey Drops Coinbase Staking Order After Three Years

Bitcoin Magazine New Jersey Drops Coinbase Staking Order After Three Years New Jersey’s securities regulator has withdrawn the 2023 cease-and-desist order that barred Coinbase from offering staking to new customers in the state, ending a three-year standoff that cost residents an estimated $15 million in forgone rewards. The Bureau of Securities notice , dated Oct. 30 and signed by Acting Bureau Chief Keith A. Alt, rescinds the order and the $5 million penalty that came with it. The withdrawal is without prejudice and without a ruling on the merits. Coinbase disclosed the development in its third-quarter report filed with the Securities and Exchange Commission, which states that the regulator informed the company of its intent to rescind on Oct. 29.

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