Alabama Drops Lawsuit Against Coinbase; Regulatory Shift for Crypto Continues

The Alabama Securities Commission, a financial regulator within the state, has withdrawn its lawsuit against cryptocurrency exchange Coinbase. The commission cited the ongoing collaboration between the US Securities and Exchange Commission (SEC) and the crypto industry to develop clear regulatory guidelines as the primary reason for this decision. This follows a pattern of state-level regulators dropping lawsuits against Coinbase after the SEC’s own investigation and recent regulatory developments.