Kentucky dismisses staking lawsuit against Coinbase

ChainCatcher news, just days after South Carolina dismissed its staking lawsuit against cryptocurrency exchange Coinbase, Kentucky has become the third state to withdraw such a lawsuit, following Vermont. Kentucky's financial regulators submitted a joint motion to dismiss on Monday, officially ending the legal action against Coinbase's staking services. The service had previously been accused of violating state securities laws.

Coinbase's Chief Legal Officer Paul Grewal stated on the X platform: "Congress needs to pass the federal market structure bill as soon as possible to end this litigation-driven, state-by-state regulatory approach."