Coinbase receives approval to launch crypto staking service in New York

According to Odaily Planet Daily, Coinbase announced the launch of crypto staking in New York. Users can stake Ethereum, Solana, Cosmos, Cardano, Avalanche, Polygon, Polkadot, and others. Cosmos is expected to offer an annualized return of over 16%, while Ethereum is approximately 1.9%. Coinbase stated that it is proceeding with the launch under clear state regulations. Its staking service now covers 46 states, excluding California, New Jersey, Maryland, and Wisconsin. This move follows the resignation of Adrienne Harris, former director of the New York Department of Financial Services, who reached a $100 million settlement with Coinbase in 2023 over compliance and monitoring deficiencies. (Decrypt)