The Business Times
business-time-50

Coinbase limiting staking service for retail customers in four states

google-preferred-sourceAdd BT as a preferred source
Published Sat, Jul 15, 2023 · 08:59 AM
    • Any cryptocurrencies that users in those states had staked before the orders were issued Jun 6 are unaffected, Coinbase says.
    • Any cryptocurrencies that users in those states had staked before the orders were issued Jun 6 are unaffected, Coinbase says. PHOTO: REUTERS

    COINBASE retail customers in California, New Jersey, South Carolina and Wisconsin will be unable to pledge new cryptocurrency to the exchange’s staking program pending proceedings the states initiated last month challenging the service, Coinbase said Friday (Jul 14) in a blog post.

    Any cryptocurrencies that users in those states had staked before the orders were issued on Jun 6 are unaffected, Coinbase said.

    Ten states accused Coinbase in June of violating state securities laws through its staking program, which allows cryptocurrency holders to lock up certain assets for a period of time in exchange for yield. REUTERS

    Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.

    Coinbase

    Share with us your feedback on BT's products and services

    Feedback

    TRENDING NOW

    On Sunday, GameStop offered US$125 a share in cash and stock for eBay.

    GameStop CEO says eBay shut his account after buyout funding stunt

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Affected staff who cannot be redeployed will be given transition support, including severance payments and career transition services.

    Amazon cuts Singapore workforce as it phases out local fulfilment including Amazon Fresh

    The opening of Tim Ho Wan's 10th outlet at Mikiki Mall in Kowloon, Hong Kong in February. The chain has more than doubled its network of stores in the city in the past year.

    Dim sum chain Tim Ho Wan ramps up North America, Hong Kong expansion after Jollibee acquisition

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More