Coinbase announced today (Wednesday) that it has received approval to offer cryptocurrency staking services to residents of New York, expanding its staking access to 46 states in total. The decision allows users in the state to stake assets such as Ethereum and Solana directly through Coinbase’s platform.
New York Approves Crypto Staking After Regulatory Review
The approval follows a period of regulatory review by New York authorities. Staking allows cryptocurrency holders to lock their tokens to help secure blockchain networks and earn rewards in return. The service is already available to users in most other U.S. states.
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Coinbase described the move as an important step in expanding access to blockchain participation across the country. The company stated that staking is a key function in maintaining major blockchain networks and that it compensates users for their participation with additional tokens.
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“New York’s approval is another proof point that stifling innovation and depriving residents of financial opportunities is bad policy,” Paul Grewal, Chief Legal Officer of Coinbase, wrote.
“We applaud New York, and hope to see this momentum continue across the U.S. Staking as a service, like that offered by Coinbase, is not a security,” he added.
???????? JUST IN: Coinbase expands staking access to New York, covering 46 states in total. pic.twitter.com/e32uZfF511
— Cointelegraph (@Cointelegraph) October 8, 2025
State Restrictions Cost Users Over $130 Million Rewards
According to Coinbase, the approval ensures that New Yorkers can now earn staking rewards on digital assets like ETH and SOL. The company estimated that residents in California, New Jersey, Maryland, and Wisconsin have missed out on more than $130 million in potential staking rewards because of local restrictions.
Coinbase also said that the decision aligns with recent developments in other states. Several U.S. states, including Vermont, Illinois, Kentucky, Alabama, and South Carolina, have dismissed cases related to Coinbase’s staking service. The company added that it views the New York approval as consistent with national regulatory trends confirming that staking services do not constitute securities.
This article was written by Tareq Sikder at www.financemagnates.com.
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