{"id":122656,"date":"2023-07-14T22:17:31","date_gmt":"2023-07-14T22:17:31","guid":{"rendered":"https:\/\/dripp.zone\/news\/coinbase-pauses-staking-services-in-four-us-states-following-regulators-orders-crypto-news\/"},"modified":"2023-07-14T22:17:33","modified_gmt":"2023-07-14T22:17:33","slug":"coinbase-pauses-staking-services-in-four-us-states-following-regulators-orders-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/coinbase-pauses-staking-services-in-four-us-states-following-regulators-orders-crypto-news\/","title":{"rendered":"Coinbase pauses staking services in four US states following regulators&#8217; orders\n &#8211; Crypto News"},"content":{"rendered":"<div data-v-b01e4970=\"\">\n<p>United States-based cryptocurrency exchange Coinbase has announced it will be temporarily stopping customers from staking additional assets in four states amid legal proceedings from local regulators.<\/p>\n<p>In a July 14 blog post, Coinbase <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.coinbase.com\/blog\/why-we-stand-by-staking\">said<\/a> Users in California, New Jersey, South Carolina, and Wisconsin would be restricted from using certain staking services until further notice.  Following the US Securities and Exchange Commission <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/sec-sues-coinbase-crypto-exchange\">file a lawsuit<\/a> Against the crypto exchange in June for offering unregistered securities, regulatory bodies in 10 US states started their own legal proceedings, prompting the suspension of certain services.<\/p>\n<p>\u201cWe strongly disagree with any allegation that our staking services are securities,\u201d said Coinbase.  &#8220;But we will fully comply with the preliminary state orders where required, even though that comes before we&#8217;ve had an opportunity to defend ourselves.&#8221;<\/p>\n<p>According to Coinbase, only the regulators&#8217; actions in California, New Jersey, South Carolina, and Wisconsin require the pause in staking additional assets.  Users based in Alabama, Illinois, Kentucky, Maryland, Vermont, and Washington are \u201celigible to stake crypto just as they were before\u201d. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ As you may have heard, on June 6, 10 US states initiated proceedings related to Coinbase&#8217;s retail staking services.  Let&#8217;s dig into what this means for our customers. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/pQidr0Ijc9\">pic.twitter.com\/pQidr0Ijc9<\/a><\/p>\n<p>\u2014 Coinbase (@coinbase) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbase\/status\/1679951143026171905?ref_src=twsrc%5Etfw\">July 14, 2023<\/a><\/p><\/blockquote>\n<p><strong><em>Related: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/us-crypto-exchanges-second-chance-xrp-listings-after-court-ruling\"><strong><em>US crypto exchanges give XRP listings a second chance after court ruling<\/em><\/strong><\/a><\/p>\n<p>The announcement followed the first pre-motion <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/what-to-expect-from-coinbase-sec-first-hearing\">hearing in the SEC&#8217;s case<\/a> against Coinbase.  The commission filed the lawsuit on June 6 alleging the crypto exchange has operated as an unregistered security broker since 2019. Coinbase has largely denied all the allegations. <\/p>\n<p>State and federal regulators have gone after other crypto firms for staking, claiming the services violated securities laws.  In February, Kraken <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/kraken-reaches-30m-settlement-with-sec-over-staking\">reached a $30-million settlement<\/a> with the SEC requiring it to stop offering staking services or programs to US clients.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/magazine\/can-you-trust-crypto-exchanges-after-the-collapse-of-ftx\/\"><strong><em>Can you trust crypto exchanges after the collapse of FTX?<\/em><\/strong><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"\/><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>United States-based cryptocurrency exchange Coinbase has announced it will be temporarily stopping customers from staking additional assets in four states amid legal proceedings from local regulators. In a July 14 blog post, Coinbase said Users in California, New Jersey, South Carolina, and Wisconsin would be restricted from using certain staking services until further notice. Following [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":122657,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-122656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122656","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=122656"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122656\/revisions"}],"predecessor-version":[{"id":122658,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122656\/revisions\/122658"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/122657"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=122656"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=122656"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=122656"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}