Illinois to drop collateral lawsuit against Coinbase

CoinRank News: Illinois plans to drop its lawsuit against crypto trading platform Coinbase for staking services, becoming the fourth state to drop related charges after Kentucky, Vermont, and South Carolina. In 2023, Coinbase was jointly sued by ten states for allegedly violating state securities laws through staking services. The U.S. Securities and Exchange Commission (SEC) also filed a federal lawsuit against the product, but withdrew the case in February of this year. The states that are still advancing staking-related lawsuits include: Alabama, California, Maryland, New Jersey, Washington, and Wisconsin. Among them, regulators in New Jersey and Washington said the case is still ongoing, and many other states declined to comment. (CoinDesk)