the Kentucky He has Closed Legal procedures against Coinbase It relates to the residence services provided by the stock exchange.
With this decision, the state joins the South Vermont and Carolina in withdrawing the legal measures taken in recent months, which confirms the reflection of the trend in the state’s policies towards increasing openness to the encryption sector.
The official nature was added to March 31, through a joint file submitted by the Ministry of Financial Institutions in Kentucky.
The cause of the lawsuit? The accusation against Coinbase to display Staking services as “unregistered securities”. The accusation is no longer in Kentucky, at least in Kentucky.
Increased direction in Kentuck
Kentucky is not isolated. In mid -March, Vermont withdrew its case after the Supreme Education Council previously presented its federal measures against Coinbase.
A few days later, on March 27, it was the role of South Carolina, who withdrew her legal procedures after protests from local users, who complained of losses of about $ 2 million of rewards.
Paul Ghroul, Coinbase’s chief official commented on X about Kentucky’s decision, and he urged Congress to intervene with consistent and unified organization at the federal level.
He also stressed the agreement of the two parties in the state that mining, as well as mining, should not be dealt with as financial tools.
Currently, legal procedures against Coinbase continues in seven states: California, New Jersey, Ilinoy, Washington, Aba, and Maryland and Yistsen.
Simultaneously with the case rejection, Kentucky approved a law of great importance to the ecosystems for encryption. On March 28, Governor Andy Bishr signed a draft law of the House of Representatives 701, also known as the name Bitcoin Rights Law.
The law, which was unanimously approved in both rooms, puts important rights for citizens and companies working in the coded currency sector in Bull and Bear.
Among the main points:
- The right to self -monopoly of digital assets
- The possibility of running the Blockchain contract without restrictions
- The treatment of free cryptocurrency without fears of discriminatory regulations
- Protecting mining activities from punishing urban planning regulations
- Clarity
Moreover, there is another draft law under discussion that allows for Government Investment Committee To invest up to 10 % of the excessive state reserves in bitcoin and other encrypted currencies.
A legislative wave supporting the piercain in the United States of America
Kentucky is not the only country to build a positive view of Criptovalute.
Oklahoma recently introduced Bitcoin strategic lawA proposal to create a strategic reserve from BTC. Missouri and Arizona follow similar paths, taking into account the establishment of state funds in digital assets.
Even in the South Carolina state, the decision to reject the case against Coinbase was accompanied by the introduction of a law authorizing the treasurer to carry up to one million BTC as a digital reserve.
A scale proposed by the Deputy Jordan. The gradual withdrawal of lawsuits against Coinbase and the progress of the laws conducive to digital assets indicates a change in the position of the state authorities.
More and more legislators seem to prefer organizational clarity over legal repression, in an open contradiction with the SEC strategy.
These developments can accelerate the debate about the federal organizational framework, which was hired by both industry and political operators.
Thus, the Kentucky case can be a turning point: fewer lawsuits, and more clarity. A message that resonates strongly in America is increasingly concerned with determining its role in the future of encrypted currencies.
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