Coinbase Announces Closing of Staking Services in Four US States Following Regulatory Orders

Coinbase Exchange Company cryptocurrency In the United States, it has announced that it will temporarily halt its services from staking additional assets in four states amid legal action from local regulators.

In a blog post on July 14, Coinbase said Users in California, New Jersey, South Carolina, and Wisconsin will be restricted from using certain staking services until further notice. After the US Securities and Exchange Commission filed a lawsuit against crypto exchanges in June for offering unregistered securities. Regulators in 10 US states have begun their own legal actions. causing some services to be suspended

“We disagree with any allegation that our staking service is a security,” Coinbase said, “but we will fully comply with the initial government directives if necessary. Even if that happened before we had a chance to defend ourselves.”

Users outside of the 4 listed states “can still use the Staking crypto service as before.”

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