Coinbase Debuts Crypto Staking in New York

Coinbase has launched its crypto staking services in New York after overcoming regulatory objections that had persisted for years. Customers can now stake various cryptocurrencies including Ethereum, Solana, and Cosmos, with yields reaching up to 16% APY. The Ethereum staking program, which is particularly popular, offers an annual yield of around 1.9%. This development follows the resignation of New York crypto regulator Adrienne Harris, who had been instrumental in reaching a $100 million settlement with Coinbase in 2023 regarding compliance failures. Coinbase highlighted that Governor Hochul's support facilitated the introduction of these programs, ensuring that New York residents can access economic opportunities similar to those available in other states. The staking services are now available across 46 states, with some still having restrictions, notably California and New Jersey.

Source 🔗