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Coinbase suspends staking services in Maryland

According to an email sent to affected users on November 2nd, Coinbase has stopped access to its staking services in the state of Maryland, USA. Coinbase stated that affected users will no longer be able to immediately deposit additional funds and any funds staked by users after June 5th will be cancelled, including any accrued rewards. They also stated that these funds will be deposited into the user's primary balance. However, users will still continue to receive rewards from any remaining staked balance, although these rewards will not be staked again, and users can also voluntarily request to cancel their staked rewards at any time. The email indicated that the Maryland Securities Commissioner issued a preliminary cease and desist order regarding Coinbase's staking services on June 6th. In addition to this order, the agency has launched a broader case against Coinbase. Coinbase has participated in discussions with the Maryland Securities Division and stated that it must now adjust its services in accordance with the progress of the case.

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