Illinois to drop lawsuit against coinbase

Illinois will soon drop his efforts trial against Coinbase and join three other US states recently supported from lawsuits against the exchange.

A spokesman for Illinois -State Secretary Alexi Giannoulias on Thursday told Coindesk that the office “intends to drop the coin base case.” The spokesman did not answer when he was asked when the case can be dropped.

Illinois was one of 10 US states that brought charges against Coinbase in 2023 for allegedly violating the state’s securities legislation through its intervention program. The US Securities and Exchange Commission (SEC) also accused Coinbase of violating federal securities legislation for its efforts product, but fell that case in February. Since SEC’s retreat, state securities regulators in Kentucky, Vermont and South Carolina have also left their own cases against the exchange.

The remaining states with action -related suits against Coinbase include Alabama, California, Maryland, New Jersey, Washington and Wisconsin. California, Maryland and Wisconsin spokesman declined to comment on pending litigation.

A representative of the New Jersey Bureau of Securities told Coindesk that “Coinbase Matter remains open” and Bill Beatty, securities manager for the Washington Department of Financial Institutions said the state’s “Coinbase case will remain in progress at this time.”

Alabama Securities Commission did not return Coindesk’s request for comment.

Leave a Comment

Your email address will not be published. Required fields are marked *

Scroll to Top