South Carolina has become the latest US state to dismiss its lawsuit against crypto exchange Coinbase over its staking services, which had accused the crypto exchange of offering unregistered securities.
The lawsuit was officially dismissed in a joint stipulation between the crypto exchange and the South Carolina Attorney General’s securities division on March 27.
“South Carolina just joined Vermont to dismiss its unfounded staking lawsuit against Coinbase,” the firm’s chief legal officer, Paul Grewal, said in a March 27 X post.
“This is not just a victory for us, but for American consumers and we hope it’s a sign of things to come in the few states left that restrict staking.”
South Carolina Attorney General and Coinbase’s joint stipulation. Source: South Carolina Attorney General
South Carolina and Vermont were two of 10 US states that took legal action against Coinbase’s