The Business Times
business-time-50

Coinbase limiting staking service for retail customers in four states

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

    From shy teenager to outspoken philanthropist, Chloe Tong has come a long way.

    Grab CEO’s wife Chloe Tong on life with Anthony Tan and finding her purpose

    HDB said the listed price of S$2.18 million for the flat at 93B Telok Blangah Street 31 was “significantly higher” than comparable transactions in the area.

    HDB reviewing ‘jumbo’ flat scheme after Telok Blangah unit listed for sale at S$2.18m

    From left: Pham Nhat Quan Anh, Pham Nhat Vuong, Pham Thu Huong and Pham Nhat Minh Hoang. The couple (centre) remain senior figures in Vingroup, with their children’s presence in the ecosystem growing.

    He built the Vingroup empire. Now South-east Asia’s richest man is handing some key roles to his sons

    The judge also rejected Radiant World’s argument that a claim against Glencore for about US$2 billion should be regarded as a “realisable asset”.

    Singapore judge raises doubts iron ore trader Radiant World is owed US$1 billion

    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