New Jersey removes Coinbase’s staking barrier

New Jersey has rescinded its 2023 order against Coinbase’s staking service, including a $5 million penalty. The decision clears a regulatory obstacle to accepting new stakes; it does not itself confirm that customers can already use the service.

The signed notice is dated 30 October and was reported on 2 November. It withdraws the earlier order without prejudice and without deciding its merits. That distinction matters: the regulator has removed this order, while retaining the ability to take future enforcement action. This is not a nationwide ruling on staking.

For affected customers, the restriction was more specific than a complete rewards shutdown. Coinbase’s published eligibility guidance says New Jersey users could keep existing eligible balances staked and earn rewards, but could not add new principal or restake rewards. Unstaking was allowed. Removing the obstacle to fresh deposits therefore changes what users may be able to do next, rather than switching every existing reward back on.

Coinbase’s customer help page still listed New Jersey among restricted states when checked for this edition. Brian Armstrong has said access will return soon, according to the reporting, but we have not verified a completed reopening. Customers should look for a dated product update or availability in their own account before treating the regulatory decision as a live feature.