In re Coinbase — Summary Cease and Desist Order, Fifteenth Extension (to 2026-04-30)

Bitcoin Research — Law, Regulation, Markets & Origins (2026)

States

Nj

2025-10-15

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Research, not advice. Part of the Bitcoin research archive (October 2026). Claims labelled unverified, contested or fringe are reported, not endorsed; statuses of bills and rules are as of the date checked. Government, court and patent records are public domain; the research notes are CC BY 4.0.

STATE OF NEW JERSEY
BUREAU OF SECURITIES
P.O. Box 47029
Newark, New Jersey 07101
(973) 504-3600

 IN THE MATTER OF:
                                                     SUMMARY CEASE AND
 Coinbase Global, Inc., and                              DESIST ORDER -
 Coinbase, Inc.,                                     FIFTEENTH EXTENSION

Respondents.

       WHEREAS, the Chief of the New Jersey Bureau of Securities (“Bureau”) is charged with the
administration of the Uniform Securities Law (1997), N.J.S.A. 49:3-47 to -89 (“Securities Law”) to
temporarily grant the relief below;

       WHEREAS, N.J.S.A. 49:3-67(a) provides, in part, that, “[t]he bureau chief may from time to time
make, amend and rescind such rules, forms, and orders as are reasonably necessary to carry out the
provisions of this law...”;

        WHEREAS, on June 6, 2023 the Bureau Chief entered a Summary Cease and Desist Order
(“Coinbase Order”) as to Coinbase Global, Inc., and Coinbase, Inc., (together “Coinbase”) which, among
other things, ordered that as of June 6, 2023 Coinbase “and any person, agent, employee, broker, partner,
officer, director, affiliate, successor, or stockholder thereof, under any of their direction or control shall
CEASE AND DESIST from:

            a) offering for sale any security, including the Coinbase Staking Securities to or from New
               Jersey unless the securities are registered with the Bureau, are covered securities, or are
               exempt from registration under the Securities Law; and

            b) violating any other provisions of the Securities Law and any rules promulgated thereunder
               for the sale of any security in New Jersey.

       WHEREAS, Coinbase has submitted information to the Bureau asserting that it cannot comply
with the Coinbase Order due to technological issues without impacting current Coinbase investors and
customers of its other lines of business within the time required in the Coinbase Order;

       WHEREAS, the Bureau requires additional time to consider Coinbase’s submission and may need
to request additional information, which Coinbase has agreed to provide;
      WHEREAS, additional time for discussions with Coinbase to achieve compliance with the
Coinbase Order is in the public interest;

       WHEREAS, the Acting Bureau Chief has extended the effective date of the Coinbase Order
fourteen times, first until August 24, 2023, and subsequently until October 31, 2025;

       WHEREAS, nothing in this order shall modify the Coinbase Order in any respect other than to
change the effective date of the Coinbase Order as indicated below.

       THEREFORE, IT IS on this 15th day of October 2025, HEREBY ORDERED that:

          1. The Coinbase Order effective date shall be extended until April 30, 2026; and
          2. Coinbase’s time to file an answer and request for a hearing shall be extended until April
             30, 2026.

                                    ______________________________________
                                    Keith A. Alt
                                    Acting Chief, New Jersey Bureau of Securities

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