Coinbase has discontinued access to its staking services in the U.S. state of Maryland, according to an email sent to affected users on Nov. 2.
In a copy of the email shared by TheCryptoTengu.eth, Coinbase said that affected users could no longer stake additional funds effective immediately. The crypto exchange also said that it will unstake any funds, including any accrued rewards, staked by users after June 5. It said that it will deposit these funds in users’ main balances.
Coinbase said that users will nevertheless continue to earn rewards on any balance that remains staked, though these rewards will not be staked again. Users can also voluntarily ask for their rewards to be unstaked at any time, Coinbase said.
The email indicates that the Maryland Securities Commissioner issued a preliminary cease and desist order concerning Coinbase’s staking services on June 6. The agency also initiated a broader case against Coinbase alongside that order.
Coinbase noted that it took part in
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