Growing regulatory momentum around digital assets in the United States continues to reshape how consumers participate in blockchain networks. Cryptocurrency exchange Coinbase (Nasdaq: COIN) announced on Oct. 8 that staking is now available to residents of New York, signaling one of the most significant state-level shifts toward digital finance inclusion.

The move reflects increasing policy clarity under Governor Kathy Hochul’s administration and marks a major expansion of Coinbase’s regulated services in one of the country’s most restrictive financial jurisdictions. Chief Legal Officer Paul Grewal stated:

Starting today, New Yorkers can stake their crypto on Coinbase. Staking your assets is a simple way to put your digital assets to work, securing blockchain networks and receiving rewards in return.

He added: “Staking is essential to the operation of many of the world’s largest blockchains.” Coinbase explained that staking allows users to participate in network security while earning passive rewards, drawing parallels to interest-bearing assets but within decentralized systems.

“New Yorkers can now start earning rewards on their ETH, SOL, and other assets directly on Coinbase’s platform,” Grewal said. The company underscored that its staking service is designed to be secure, compliant, and easy to use, furthering its mission to make digital asset participation accessible across the United States.

Coinbase reinforced the announcement on social media platform X, writing: “Oh hey New York, welcome to the party. Crypto staking is now live in NY. And still live in 45 other states too.” CEO Brian Armstrong added on X:

Glad to see progress in NY. Staking services aren’t securities – hope all other states stuck in the past can drop their lawsuits and catch up soon (CA, WI, NJ, MD). Happy staking, New Yorkers!

Coinbase positioned New York’s approval as evidence of a nationwide shift toward acceptance of staking as a legitimate financial activity. Grewal concluded: “The path forward is clear: we’re well on our way to giving every American the opportunity to earn staking rewards, unlocking financial freedom regardless of where they live.” The company cited recent U.S. Securities and Exchange Commission (SEC) staff guidance and several state-level case dismissals as support for a growing consensus that staking services should not be treated as securities, marking a broader regulatory turning point for the U.S. crypto industry.

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