South Carolina dismisses lawsuit against Coinbase for staking services, joining Vermont

From Cointelegraph

March 28, 2025 01:12 AM:

South Carolina dismissed its lawsuit against Coinbase over staking services, joining Vermont. The lawsuit was officially dropped on March 27, leading to hope for other states to do the same. 10 US states, including South Carolina and Vermont, initially filed legal action against Coinbase on June 6, 2023. The SEC dismissed the lawsuit on Feb. 27, 2025. South Carolina residents lost an estimated $2 million in staking rewards due to the lawsuit. A bill introduced in South Carolina could see the state treasurer allocate up to 10% of certain state funds to cryptocurrencies like Bitcoin. The bill allows for a Bitcoin reserve exceeding 1 million Bitcoin, to be added to various state funds managed by the treasurer. US President Donald Trump recently signed an executive order to create a Strategic Bitcoin Reserve and Digital Asset Stockpile.

Read more at Cointelegraph: South Carolina dismisses its staking lawsuit against Coinbase, joining Vermont