Coinbase secured permission from New York regulators on 8 October 2025 to offer staking to state residents, opening access to a service that lets users lock supported assets to validate Proof-of-Stake networks and receive periodic rewards. Until now, New York’s BitLicense regime had blocked such products, and the change unlocks a large pool of potential earnings for local customers. The approval places the exchange’s staking within the state’s compliance framework.
Coinbase described the move as the outcome of a state review that added New York to the list of jurisdictions where its staking product is legal. Staking requires token holders to post collateral so the network can process blocks, and the protocol pays rewards for the locked balance, with Coinbase operating the nodes and handling uptime while passing yield to customers after a fee.
The service supports Ethereum, Solana and other assets available on the platform, aligning with the model in which Coinbase runs validators and distributes rewards net of fees. The firm quotes a standard range of 3.5 % to 5 % across assets, with some reaching 12 %; for cbETH it lists 3.05 % to 3.11 %.
Approval and service details
The approval marks a shift within the strict BitLicense system. Coinbase argues that staking offered by licensed venues should not count as a security, a view it says is reinforced by recent SEC staff statements and by court dismissals of staking-related suits in several states.
New Jersey, Maryland besides Wisconsin still bar the product, and Coinbase claims residents there have missed more than USD 130 million in rewards since June 2023. “New York’s decision shows that blocking people from financial tools is poor policy,” the firm wrote.
Practical consequences include wider access for millions of New Yorkers and a policy signal that staking is an operational service, not an investment contract. At the same time, fragmented rules leave a patchwork of state bans that can push users toward offshore or unlicensed platforms, and Coinbase tallies lost income for restricted states since mid-2023.
The 8 October decision places New York inside the circle of regions where a regulated operator may offer staking. Coinbase states that it will keep listing new assets and adjusting yields, and adds that regulators need flexible rules to keep pace with the steady arrival of new tokens and services.
