South Carolina drops collateral lawsuit against Coinbase

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PANews
03-28
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According to PANews on March 28, Coinbase's Chief Legal Officer Paul Grewal stated on X platform that South Carolina has followed Vermont's lead and withdrawn its lawsuit against Coinbase's Staking. Grewal said that Staking services will soon be reopened to users in South Carolina, which is not only a victory for Coinbase but also for American consumers. He hopes this decision will influence other states that still have restrictions on Staking services.

Grewal added that due to this case, South Carolina users lost approximately $2 million in staking rewards, and the 52 million cryptocurrency holders in the United States deserve reasonable consumer protection and clear regulations. He expressed appreciation for South Carolina Attorney General Alan Wilson's efforts in resolving this matter and hopes that other states restricting Staking will take note of this change.

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