Coinbase Escalates Crypto Campaign Against California Regulator

Cryptocurrency giant Coinbase Global Inc. is ramping up pressure to get California to drop its lawsuit against the company so it can resume its rewards program, which has been paused since 2023.

The cryptocurrency exchange began an advocacy campaign in the final weeks of December by recruiting its users to ask a California regulator to stop its “ban” on staking. The practice lets customers earn crypto in exchange for locking their assets into a blockchain network to support its operations. Consumer groups contend companies need greater oversight because of the risks involved.

California is one of four states — along ...