Coinbase suspends staking service in some states | CoinDesk JAPAN | Coin Desk Japan

Cryptocurrency exchange Coinbase has temporarily suspended staking services for retail investors in California, New Jersey, South Carolina and Wisconsin. These states have ordered changes to the staking service, which they say violates securities laws.

Crypto assets staked before the order was issued are unaffected.

In June, the U.S. Securities and Exchange Commission (SEC) sued Coinbase for violating securities laws by arguing that its staking service and some of the crypto assets it lists are securities. On the same day, regulators in 10 states also launched their own legal proceedings against Coinbase.

“We strongly oppose any allegations that our staking service is a security,” Coinbase wrote in a blog post Wednesday afternoon.

“However, even before we have had the opportunity to defend ourselves, we will fully comply with any preliminary state orders that have been requested.”

｜Translation: CoinDesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Shutterstock
｜Original: Coinbase to Pause Staking in California, New Jersey, South Carolina and Wisconsin