Coinbase has restored crypto staking services for customers in New Jersey after state regulators rescinded a 2023 cease-and-desist order that had blocked the exchange from offering the products. Eligible users can now stake supported cryptocurrencies and earn up to 12% APY, according to Coinbase.

The New Jersey Bureau of Securities formally withdrew its order on Oct. 30, ending a restriction that had kept local customers from accessing Coinbase staking for more than three years. The original June 2023 order directed Coinbase to stop offering staking-related securities in the state unless they were registered or exempt from registration, and included a $5 million civil penalty.

Coinbase General Counsel Molly Abraham said the state had…