If you live in maryland, you're no longer allowed to stake on coinbase for the time being.

Hey yall i just got this email from coinbase a few minutes ago.

On June 6, 2023, the Maryland Securities Commissioner issued a preliminary cease and desist order concerning aspects of Coinbase’s staking services as part of initiating a case against Coinbase. We have been engaged in discussions with the Maryland Securities Division since then and will be making changes to our staking services in Maryland as the case proceeds. The changes are further described below. Staking is fundamental to the crypto industry.

You can read more about why we stand by staking here. We strongly disagree with the Division’s view of Coinbase’s retail staking services under Maryland’s securities law. The order from Maryland is not a final adjudication of the legal issues. But Coinbase is committed to compliance and will be abiding by the terms of the order even while we vigorously defend our staking services for Maryland customers like you.

Unfortunately, the Division is requiring us to limit your access to ongoing Coinbase staking services, and Coinbase has no ability to challenge that restriction immediately. As proceedings move forward in Maryland about our staking services, we want to share how you may be impacted, what you can expect next, and what you can do to make your voice heard.

What you can expect next

• Starting today, November 2, you will no longer be able to stake additional principal.

• In the coming weeks, any crypto balance staked after June 5 will be unstaked, including accrued rewards. We will notify affected customers again when we begin processing unstaking transactions. All unstaked funds remain yours and will appear in your primary balance.

•On any balance that remains staked, you will continue to earn staking rewards. The rewards will not be restaked and will appear in your primary balance.

•You can request to unstake your assets on the Earn tab at any time. Standard unstaking periods apply.¹