TechFlow reports, on April 2, according to Cointelegraph, the Kentucky Department of Financial Institutions has jointly filed a motion to dismiss with Coinbase, ending the state's legal action initiated in June 2023 alongside ten other state regulators alleging the exchange's staking service violated securities laws. This makes Kentucky the third state, after Vermont and South Carolina, to withdraw its lawsuit related to Coinbase's staking rewards program.
Currently, seven states—Alabama, California, Illinois, Maryland, New Jersey, Washington, and Wisconsin—continue to pursue litigation. Previously, the U.S. Securities and Exchange Commission (SEC) dismissed its lawsuit against Coinbase at the end of February.
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