The regulatory authority in Vermont, USA, has revoked the inquiry order against Coinbase regarding its staking services

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal tweeted that the financial regulatory authority of Vermont has officially withdrawn its inquiry into Coinbase regarding its cryptocurrency staking services.

According to the official document released on March 13, this withdrawal decision does not affect any potential further legal actions in the future. The document indicates that the main reasons for Vermont's decision to withdraw the inquiry include the SEC's dismissal of similar charges against Coinbase in the Southern District of New York Federal Court, and the SEC's establishment of a new task force to develop regulatory rules related to cryptocurrency. Coinbase welcomed this decision and urged Congress to pass comprehensive cryptocurrency legislation, while also encouraging other states to follow Vermont's example.