South Carolina withdraws pledge lawsuit against Coinbase

Coinbase Chief Legal Officer Paul Grewal announced on X platform that South Carolina has joined Vermont in withdrawing its staking lawsuit against Coinbase. Grewal stated that the staking service will soon be reopened to users in South Carolina, which is not only a victory for Coinbase but also for American consumers. He hopes that this decision will affect other states that still have restrictions on pledge services. Grewal added that due to this case, South Carolina users lost approximately $2 million in staking rewards, and the 52 million cryptocurrency holders in the United States deserve reasonable consumer protection and clear regulations. He appreciates the efforts of South Carolina Attorney General Alan Wilson in resolving this matter and hopes that other states with restricted pledges will pay attention to this change.