Coinbase to Pause Ethereum Transactions During Merge Upgrade

Cryptocurrency exchange Coinbase has released guidelines in preparation for the highly anticipated Ethereum (ETH) Merge upgrade that will transition the network to a Proof-of-Stake (PoS) protocol. 

The exchange is set to briefly pause all withdrawals and deposits involving Ethereum until the entire Merge migration scheduled for around September 15 is complete, Coinbase stated in a blog post published on August 16. 

According to the exchange, the move is a precautionary measure to facilitate smooth trading of the asset and other ERC-20 tokens once the migration is complete. The exchange acknowledged that after the transition, Ethereum will offer a seamless experience to users.  

"During the Merge, Coinbase will briefly pause new Ethereum and ERC-20 token deposits and withdrawals as a precautionary measure," the company added.

"This downtime allows us to ensure that the transition has been successfully reflected by our systems. We do not expect any other networks or currencies to be impacted and expect no impact to trading for ETH and ERC-20 tokens across our centralized trading products," Coinbase said.