Coinbase Launches Staking in New York

Coinbase Unlocks Staking for the Empire State

Coinbase has officially launched crypto staking services in New York, ending years of regulatory deadlock with the state’s financial authorities. The move allows New Yorkers to earn yield on popular proof-of-stake assets like Ethereum (ETH), Solana (SOL), Cosmos (ATOM), Cardano (ADA), Avalanche (AVAX), Polygon (MATIC), and Polkadot (DOT).

The company announced the update Wednesday, calling it a “meaningful step forward” for local access to crypto-based income opportunities.

New Yorkers Can Now Earn Up to 16% APY

The newly approved programs include a range of annual percentage yields (APYs) depending on the crypto asset staked. Coinbase listed Cosmos (ATOM) as the most lucrative, offering over 16% APY, while Ethereum (ETH) - the most widely staked asset on the exchange - provides about 1.9% annual returns.

Until now, New York was one of the few states where Coinbase customers were barred from staking, due to the Department of Financial Services (NYDFS) maintaining some of the nation’s strictest crypto compliance requirements.

A Long Road to Regulatory Approval

Coinbase’s path to this milestone has been a long one. The company has spent years negotiating with New York regulators, after the NYDFS flagged compliance and transparency issues with Coinbase’s staking and yield programs.

In 2023, Coinbase agreed to a $100 million settlement with the state, resolving what the NYDFS called “significant failures” in transaction monitoring and banking compliance.

Since then, Coinbase has ramped up internal compliance, strengthening anti-money laundering controls and on-chain risk monitoring, paving the way for this long-awaited approval.

New York’s Crypto Climate Is Changing

The announcement comes just a week after Adrienne Harris, the NYDFS Superintendent and one of the state’s most prominent crypto regulators, announced her resignation. Harris, who served since 2021, was both praised for regulatory modernization and criticized for aggressive enforcement of crypto firms operating under New York’s BitLicense regime.

While the BitLicense framework remains one of the most difficult licenses to obtain in the United States, Coinbase’s deal suggests New York may be softening its stance on certain compliant crypto activities.

Coinbase now offers staking in 46 states, with California, New Jersey, Maryland, and Wisconsin still restricting the practice.

Coinbase’s Staking Expansion Reflects Industry Maturity

Coinbase’s move to expand staking to New York marks a major regulatory and business milestone, signaling both institutional trust and crypto market normalization.

As more states revisit crypto policy, Coinbase’s New York approval could become a blueprint for how exchanges collaborate with regulators to open new digital finance opportunities — without compromising oversight.