Coinbase, one of the world’s largest cryptocurrency exchanges, has launched crypto staking services in New York. According to reports, the state regulators gave the green light before the launch.
Coinbase Staking Services Come With a Lot of Benefits
With the launch, New York residents can now earn rewards on popular cryptocurrencies like Ethereum (ETH) and Solana (SOL). Coinbase also confirmed that users in New York can now stake their crypto assets directly on the platform. This significant milestone complies with the New York Department of Financial Services (NYDFS) rules.
Notably, crypto staking allows users to lock up their digital assets on blockchain networks. In return, they earn rewards, similar to earning interest on a bank savings account. By launching staking in New York, Coinbase allows residents to participate in the proof-of-stake (PoS) system and grow their crypto holdings.
Coinbase already offers staking for several assets, including ETH, SOL, ADA (Cardano), and ATOM (Cosmos), in other locations. Adding New York, a major financial center with millions of potential crypto users, helps Coinbase reach a broader audience and provides access to staking in one of the most important U.S. markets.
US Legal Battle Is Not Yet Over
Despite the exchange’s staking services launch in New York, it is worth noting that several states have filed lawsuits against Coinbase. Some states, including Alabama, California, Maryland, New Jersey, Washington, and Wisconsin, are still in court over Coinbase’s staking program.
Some of the states have reportedly refused to comment on the status of their cases. However, Illinois has decided to drop its staking-related lawsuit against Coinbase. In 2023, the state accused the exchange of violating state securities laws by offering staking services.
Simultaneously, the Securities and Exchange Commission (SEC) charged the U.S.-based exchange for similar issues regarding federal securities laws. In response to the claims, Coinbase denied the accusations and fought back in court. Later in February 2025, the SEC decided to drop its case against Coinbase.
Coinbase Paving the Way for Broader Innovation
Coinbase has previously declared its goal of becoming the “Everything Exchange,” with plans to introduce tokenized equities, prediction markets, and new yield-generating services.
The company stated that an OCC charter would streamline oversight for these upcoming offerings. This will ensure the exchange meets federal standards while maintaining innovation.
Meanwhile, CEO Brian Armstrong remains a prominent advocate for clearer crypto regulations in the U.S. He has consistently supported the crypto market structure bill currently under discussion in Congress. He also argues that digital assets are already deeply embedded in the financial ecosystem.