State State Vermont abandoned the “order for the cause of the show” against Crypto Exchange Coinbase for allegedly offering users unregistered securities through the service.

The Vermont financial regulation department said on March 13 order That in the featherlight of the American Commission of Securities and Exchange Exits throwing their case on February 28, he would follow in their footsteps and would cancel his actions against Coinbase without prejudices.

“SEC has announced the creation of a new task group to provide, among other things, guidelines regarding the announcement of provisions regarding the regulation of cryptocurrency products and services,” said the department.

“In the light of rejection of federal activities and the likelihood of new federal regulatory guidelines, the Faculty believes that this would be the most efficient, and in the best interest of justice to repeal the expectant cause, without prejudice.”

On the same day, SEC filed a lawsuit in June 2023, the United States in Alabama, California, Illinois, Kentucky, Maryland, Modern Jersey, South Carolina, Vermont, Washington and Wisconsin said that they were starting legal proceedings against Coinbase.

Ordering the cause of the program confirmed This Coinbase violated the provisions regarding securities, offering to put users without a license and demanded that the stock exchange constitute the reason why the courts should not hit them with an order ordering them to stop the service.

Now that Vermont gave up, said legal director Coinbase Paul Grewal statement To X, that other states with actions setting should take a “page from the Vermont textbook”.

“As we always said: services are not securities. We applaud Vermont for accepting progress and providing clarity to their citizens who owners of digital assets – he said.

“Our work is not over. Congress must take over a double -sided shoot, which we see through the chamber and the Senate to adopt comprehensive regulations that take into account up-to-date features of digital assets, such as erecting, “he added.

Related: YouTuber claims that SEC will recommend rejecting the lawsuit in relation to the ICO 2018 token

The growing number of companies facing the legal proceedings with SEC rejected matters as a result of former chairman of Sec Gary Gensler, who adopted a hard attitude towards cryptography, giving up on January 20.

The Cumberland DRW Kryptographic Commercial Firma was one of the latest ones that had dropped their case on March 4, while the regulator apparently ends its enforcement activities against Ripple Labs after more than four years.

Grewal also published an application pursuant to the Act on freedom of information to find out how many enforcement activities were lodged against cryptographic companies as part of Gensler’s term between April 17, 2021 and January 20, 2025 and the taxpayer’s costs.

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