On April 4, according to CoinDesk, Illinois plans to withdraw its lawsuit against Coinbase's staking services, becoming the fourth state to drop the related charges, following Kentucky, Vermont, and South Carolina. In 2023, Coinbase was jointly sued by ten states for allegedly violating state securities laws through its staking services. The U.S. Securities and Exchange Commission (SEC) had also filed a federal lawsuit regarding the product but withdrew the case in February this year. The states still pursuing staking-related litigation include Alabama, California, Maryland, New Jersey, Washington, and Wisconsin. Among them, regulators in New Jersey and Washington stated that the cases are ongoing, while the other states have declined to comment.
Illinois to drop collateral lawsuit against Coinbase
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