South Carolina rejected a lawsuit against Crypto Excination Coinbase, and has become the second country to drop the blasphemy after the US Control Authority turned towards industry. The Senior Port Stock Exchange officials (CLO) described the development as a “victory” for encryption investors.
South Carolina falls for Coinbase’s curtain services
Thursday, Coinbase’s Clo, Paul Grewal, open South Carolina has rejected her case against the exchange of encryption in a joint condition between the state prosecutor’s state in the state and the platform.
Grewal stressed that “Domino continued to fall” as South Carolina became the second country that rejects a lawsuit against Coinbase.
Joint stipulation between South Carolina Attorney General's Securities Division and Coinbase. Source: South Carolina Attorney General
For the context, in June 2023, 10 organizers of the American state, including Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington, and Wisconsin, were accused of exchanging encryption to violate the stock law.
The multi -state business squad issued an offer against Coinbase, on the pretext that it violated the Securities Law “by submitting the accounts of its rewards program to the Alabama residents without registering or selling these securities.”
On the same day, the Securities and Stock Exchange Committee filed a lawsuit against Coinbase to file unregistered securities and their failure to register and sell the Crypto Asset-S-Service.
Earlier this month, Vermont has a lawsuit over exciting services, citing the dismissal of the Coinbase case and the ongoing organizational changes in the committee.
“In light of the rejection of the federal procedure and the possibility of the new federal organizational guidance, the division believes that it will be more efficient and in the best interest of justice to cancel the suspended offer, without bias,” the March 13 court document. Read.
Has the American encryption scene become less hostile?
Coinbase’s Clo pointed out that South Carolinin lost more than two million dollars from the exciting rewards of this issue and it is noted that yesterday’s refusal to a victory for the 52 million US investors, who “deserve to protect logical consumers and clear rules.”
Grewal also praised the South Carolina decision, in the hope that it would be “a sign of the coming things in the remaining few states that restrict attention.”
It is worth noting that the American encryption scene has become more friendly in the framework of the new administration. SEC, the president -led president, is working to create a clear organizational framework, which seeks to obtain general inputs to address the long -term organizational challenges it faced.
Amid the ongoing changes, the committee has refused or stopped many major encryption cases in the past two months, including Coinbase, Robinhood and Binance. The organizational agency continued to decrease the involvement in encryption on Thursday, officially dropping three cases and closed one investigation.
As a journalist and host of Bodcast Eleanor Territ I mentionedSEC closed its investigation into Crypto.com without enforcement and “refusing the official declared litigation against Kraken, Conssysys and Cumberland.
Wet male The rippal lawsuit has not been included because it “is slightly different from these other cases in that (…) The Supreme Education Council now must go to the southern region and ask Judge Torres to raise the standard dagger.
Bitcoin (BTC) trades at $85,046 in the one-week chart. Source: BTCUSDT on TradingView
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