New Jersey has rescinded its 2023 cease-and-desist order against Coinbase’s staking service, along with a $5 million penalty, without ruling on the merits of the case. The Oct. 30 notice leaves the Bureau of Securities free to bring a new enforcement action against Coinbase in the future. CEO Brian Armstrong said New Jersey users will regain staking access “very soon,” while California, Maryland, Wisconsin and Washington are still pursuing cases against the exchange’s staking services. Coinbase estimates California users have missed out on over $89 million in staking rewards since 2023, versus more than $15 million in New Jersey. The decision came ahead of the Nov. 3 US midterm elections, with prediction markets favoring Democrats to win Senate control.
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CoinbasecryptoregulationbitcoinEthereum
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Related tickers and likely impact
BTC/USDT
▲ Likely positiveBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/01/2026 | 78,354.00 |
| Change that session | +1.00% |
ETH/USDT
▲ Likely positiveEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $277.2B |
| Close on 11/01/2026 | 2,275.31 |
| Change that session | +0.87% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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