PANews reported on April 25 that Coinbase called on the remaining five states in the United States to drop their lawsuits against its staking services. Coinbase stated that the U.S. Securities and Exchange Commission (SEC) and five states have withdrawn their lawsuits against Coinbase's staking services, joining the 40 states that do not oppose staking activities. Now is the time for the remaining five states to take the same action and stop harming consumers' interests. In February this year, the SEC withdrew its lawsuit against Coinbase. In the past month, five states that previously followed the SEC's lawsuit—Illinois, Kentucky, South Carolina, Vermont, and Alabama—also agreed to drop their lawsuits. However, California, New Jersey, Maryland, Washington, and Wisconsin are still taking action, harming the interests of residents in these states. Except for Washington state, the other states have implemented cease and desist orders, which have caused residents to lose millions of dollars due to missed staking rewards, while also limiting consumer choices and increasing regulatory uncertainty. It is time for these states to catch up with the SEC and almost all other states and drop these baseless lawsuits.
