Illinois will soon lower the staking lawsuit against Coinbase, which joined three other US states that have recently been backing down from the trial against the exchange.
A spokesperson for Illinois Secretary Alexi Giannonoias told CoinDesk on Thursday that the office was “planning to overthrow Coinbase’s lawsuit.” The speaker did not respond when asked when the case could be dropped.
Illinois was one of the 10 US states that brought charges against Coinbase in 2023 for allegedly violating state security laws through its staking program. The US Securities and Exchange Commission (SEC) That suit collapsed in February. Since the SEC’s retreat, state regulators in Kentucky, Vermont and South Carolina have also left their own cases against the exchange.
The remaining states with staking -related staking against Coinbase include Alabama, California, Maryland, New Jersey, Washington and Wisconsin. Speakers for California, Maryland, and Wisconsin refused to comment on the pending trial.
A representative for the New Jersey Bureau of Securities told CoinDesk that the “Coinbase thing remains open,” and Bill Beatty said the security manager for the Washington finance department said the “state case of Coinbase remains continuous at this time.”
Alabama Securities Commission did not return CoinDesk’s request for comment.
