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>>Coinbase now offers Ethereum and Solana staking services to users in New York, following regulatory approval.

Coinbase now offers Ethereum and Solana staking services to users in New York, following regulatory approval.

crypthub

3 days ago

Coinbase Staking Services Launched in New York

Coinbase has launched cryptocurrency staking services for users in New York, after gaining regulatory approval. New York residents can now stake Ethereum (ETH) and Solana (SOL) directly through the exchange. This development follows years of regulatory challenges and legal battles surrounding crypto staking services.

Regulatory Landscape and Legal Challenges

Multiple US states previously filed lawsuits against Coinbase concerning its staking offerings, alleging securities law violations. These cases were subsequently dropped, influenced by recent political shifts and the Trump administration’s approach. Coinbase estimates that residents in other states have missed out on over $130 million in staking rewards.

Broader Trend of Regulatory Acceptance

There’s a growing trend of financial regulators in the US becoming more receptive to crypto staking services. Grayscale Investments’ Ethereum ETF now allows staking, and other Solana-based ETFs are anticipated to offer similar services soon. This shift aims to foster a more supportive environment for the cryptocurrency industry.

Future Outlook for Crypto Staking

Despite recent progress, the path towards complete regulatory acceptance of crypto staking remains complex. The SEC recently delayed approval for certain Ethereum ETF staking proposals, indicating potential hurdles ahead. ETH is currently trading at $4,535.