19 hours ago
Three different states — Kentucky, Vermont and South Carolina — person already dropped their suits.
Apr 3, 2025, 5:30 p.m. UTC
Illinois volition soon driblet its staking suit against Coinbase, joining 3 different U.S. states that person precocious backed down from litigation against the exchange.
A spokesperson for Illinois Secretary of State Alexi Giannoulias told CoinDesk connected Thursday that the bureau “intends to driblet the Coinbase lawsuit.” The spokesperson did not reply erstwhile asked erstwhile the lawsuit whitethorn beryllium dropped.
Illinois was 1 of 10 U.S. states that brought charges against Coinbase successful 2023 for allegedly violating authorities securities laws done its staking program. The U.S. Securities and Exchange Commission (SEC) besides charged Coinbase with violating national securities laws for its staking product, but dropped that suit successful February. Since the SEC’s retreat, authorities securities regulators successful Kentucky, Vermont and South Carolina person besides abandoned their ain cases against the exchange.
The remaining states with staking-related suits against Coinbase see Alabama, California, Maryland, New Jersey, Washington and Wisconsin. Spokespeople for California, Maryland, and Wisconsin declined to remark connected pending litigation.
A typical for the New Jersey Bureau of Securities told CoinDesk the “Coinbase substance remains open,” and Bill Beatty, securities head for the Washington Department of Financial Institutions said the state’s “case with Coinbase remains ongoing astatine this time.”
The Alabama Securities Commission did not instrumentality CoinDesk’s petition for comment.
Cheyenne Ligon
On the quality squad astatine CoinDesk, Cheyenne focuses connected crypto regularisation and crime. Cheyenne is primitively from Houston, Texas. She studied governmental subject astatine Tulane University successful Louisiana. In December 2021, she graduated from CUNY's Craig Newmark Graduate School of Journalism, wherever she focused connected concern and economics reporting. She has nary important crypto holdings.
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