US cryptocurrency exchange Coinbase has informed its customers in California, New Jersey, South Carolina and Wisconsin that it plans to suspend its staking service due to local regulatory requirements.
As a result, the aforementioned users will not be able to deposit additional assets under this service, while already staked funds will not be affected by the decision.
The platform has promised to provide more information about the expected changes in the coming weeks in the state help centers.
The service continues to operate normally in other US states.
Last June 6, the SEC filed a civil lawsuit against Coinbase in which it accused the exchange of an unregistered offering of securities in the form of various tokens. In addition, the agency also set its eyes on the Coinbase Earn staking program.
On the same day, ten state regulators made similar claims regarding the latter. In addition to the above, the list includes the Securities Commissions of Maryland, Vermont, Kentucky, Illinois, Alabama and Washington.