Coinbase Crackdown Widens as US States Push to Halt Staking Product
- California, others demand an immediate stop to service
- SEC alleged Tuesday that firm sold unregistered securities
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State regulators from California to New Jersey demanded that Coinbase Global Inc. halt its staking service, posing fresh and local threats to the biggest US crypto exchange.
The moves by watchdogs across the country coincide with the Securities and Exchange Commission suing Coinbase on Tuesday for a range of alleged violations. Both federal and state officials drilled in on Coinbase’s staking program, which offers customers a return for letting their tokens be used to facilitate blockchain transactions.