Illinois Drops Lawsuit Against Coinbase, Following SEC’s Lead

In a significant development, Illinois has decided to drop its lawsuit against Coinbase, echoing the Securities and Exchange Commission (SEC)’s recent decision to withdraw its own case. This move marks another retreat from the legal battle between U.S. states and the popular cryptocurrency exchange, which centers around the legality of Coinbase’s staking program. 7 The move follows a pattern of states reevaluating their stances on staking-related charges in light of the SEC’s earlier decision to drop its case against Coinbase.