Illinois Joins Other States in Dropping Lawsuit Against Coinbase

Illinois plans to drop its staking lawsuit against Coinbase, following similar actions by three other U.S. states. Key points include:

The Illinois Secretary of State's office confirmed the intention to dismiss the case.
In 2023, Illinois was among 10 states that accused Coinbase of violating state securities laws related to its staking program.
The SEC previously charged Coinbase with federal violations but dropped its case in February.
States that have also abandoned litigation include Kentucky, Vermont, and South Carolina.
Remaining states with active suits against Coinbase are Alabama, California, Maryland, New Jersey, Washington, and Wisconsin.
New Jersey and Washington officials stated their cases against Coinbase are still ongoing.