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Coinbase Wins New York Approval to Offer Crypto Staking, Activates ETH and SOL

The move extends access to 46 states, signaling a regulatory thaw even as some jurisdictions keep restrictions in place.

Coinbase opens crypto staking to new york residents
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New yorkers gain access to crypto staking as coinbase secures state approval
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Overview

  • New Yorkers can now earn rewards by staking Ethereum and Solana on Coinbase following state regulatory approval.
  • Coinbase credits Governor Kathy Hochul for regulatory clarity and reiterates its view that staking-as-a-service is not a security.
  • With New York added, Coinbase says its staking program now reaches 46 states, excluding California, New Jersey, Maryland, and Wisconsin.
  • Several states have dismissed staking-related actions against Coinbase, including Vermont, Illinois, Kentucky, Alabama, and South Carolina, while cases in New Jersey and Washington remain active.
  • Coinbase estimates residents in the four holdout states have missed more than $130 million in potential staking rewards due to ongoing restrictions.