New Jersey Withdraws Coinbase Staking Order Before Election Review

New Jersey has reversed a long-running enforcement action targeting Coinbase ’s staking service, rescinding a 2023 cease-and-desist order and the associated $5 million penalty. The move ends a ban that had prevented residents from staking new funds on the exchange for more than three years, though it does not include a merits-based ruling. In an Oct. 30 notice signed by Acting Bureau Chief Keith A. Alt, the state withdrew the prior order “without prejudice,” leaving open the possibility that New Jersey’s Bureau of Securities could pursue fresh enforcement in the future.