Coinbase Launches Crypto Staking in New York as States Warm to Staking
BlackRock and Brevan Howard have made a significant move in the crypto world by launching tokenized funds on the Sei network. Meanwhile, Coinbase has expanded its services, now offering crypto staking in New York and embedding its services into Samsung Wallets across the U.S. However, not all states are on board with crypto staking, as residents in several states have missed out on substantial rewards due to bans.
The crypto giant Coinbase has received a green light from the New York State Department of Financial Services (NYDFS) and Governor Kathy Hochul's administration to offer its crypto-staking services in New York. This move comes after Coinbase applied for a National Trust Company Charter to strengthen its role as a bridge between crypto and traditional finance.
The recent SEC guidance has clarified that staking-as-a-service, when structured transparently, does not constitute a securities offering. This has led to multiple states dismissing cases against Coinbase this year, indicating a growing consensus on staking compliance. The launch of Coinbase's staking services in New York signals growing state-level acceptance of crypto staking, contrasting with bans in states like California and Oregon.
In other news, financial institution Rothschild & Co. has upgraded Coinbase stock to a 'Buy' with a $417 price target, reflecting the confidence in the company's expansion and regulatory compliance efforts.
The crypto landscape continues to evolve, with major players like BlackRock, Brevan Howard, and Coinbase pushing the boundaries of tokenization and staking services. While some states embrace these innovations, others maintain bans, leading to missed opportunities for residents. As regulatory clarity improves and more states accept crypto staking, the industry is poised for further growth and integration with traditional finance.
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