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New Jersey drops Coinbase staking lawsuit and lifts cease-and-desist order

New Jersey has officially dropped its lawsuit against Coinbase and lifted a cease-and-desist order on its staking services, enabling residents to resume staking after more than three years.

The Coinbase blue circular logo set against a white background.
Image: @scottmelker

New Jersey has officially dropped its lawsuit against cryptocurrency exchange Coinbase regarding its staking services and lifted an active cease-and-desist order, according to reports from The Wolf Of All Streets and Watcher.Guru.[1][3]

The resolution clears the way for Coinbase users in the state to resume staking after being barred from the program for more than three years. Coinbase CEO Brian Armstrong stated that New Jersey users will be able to stake on the platform again "very soon."[1][3]

According to Crypto Briefing, the dismissal highlights an ongoing push for a unified federal regulatory framework to prevent financial losses and avoid patchwork inconsistencies across different states.[2]

Key facts

  • New Jersey has officially dropped its lawsuit against Coinbase over staking services.
  • New Jersey lifted its cease-and-desist order against Coinbase.
  • Coinbase CEO Brian Armstrong stated that New Jersey users will be able to stake again "very soon."
  • Users in New Jersey had been unable to stake crypto on Coinbase for more than three years.
  • Crypto Briefing reported that the dismissal highlights the need for a unified federal regulatory framework to prevent financial losses and state-by-state inconsistencies.

Sources · 3 sources

  1. TW

    The Wolf Of All Streets@scottmelkerPost on X ·

    NEW JERSEY DROPS ITS STAKING LAWSUIT AGAINST COINBASE $COIN AND LIFTS ITS CEASE-AND-DESIST ORDER COINBASE CEO BRIAN ARMSTRONG SAYS NEW JERSEY USERS WILL "VERY SOON" BE ABLE TO STAKE AGAIN AFTER MORE THAN 3 YEARS https://t.co/aPb6sfmIcJ

    Open source
  2. CB

    Crypto BriefingArticle ·

    New Jersey drops staking lawsuit against Coinbase, clearing path for users to resume The dismissal highlights the need for a unified federal regulatory framework to prevent financial losses and inconsistencies across states. The post New Jersey drops staking lawsuit against Coinbase, clearing path for users to resume appeared first on Crypto Briefing .

    Open source
  3. WG

    Watcher.Guru@WatcherGuruPost on X ·

    JUST IN: 🇺🇸 New Jersey officially drops lawsuit against Coinbase, allowing users to resume crypto staking after more than 3 years.

    Open source