New Jersey Withdraws Coinbase Staking Limits and $5 Million Penalty

New Jersey has withdrawn its order restricting Coinbase’s staking service and the $5 million penalty tied to it, clearing a path for the exchange to restore access for customers in the state.

The withdrawal covers both the monetary penalty and the staking restrictions, and it is without prejudice. The order targeted Coinbase’s staking service in New Jersey, so the state action affected customer access to staking there. Coinbase said access will return “very soon.”

The decision removes the restrictions identified in the withdrawn order. For customers in New Jersey, that clears the barrier posed by those restrictions and sets up a return of the service. Coinbase’s statement points to a future restoration; it does not describe access as already restored.

The immediate development is the withdrawal itself: New Jersey has pulled back both the $5 million penalty and the staking limits. Coinbase’s promised next step is to restore customer access in the state, with the company describing the timing as “very soon.”