South Carolina became the latest state of the USA, which rejected his lawsuit against Crypto Exchange Coinbase in connection with the services of Staking, which accused the cryptographic exchange of offering unregistered securities.
The lawsuit was officially released In a joint reservation between Crypto Exchange and the Safety Division of South Prosecutor General Carolina on March 27.
“South Karolina has just joined Vermont to reject her unfounded lawsuit against Coinbase,” the company’s legal director, Paul Grewal, he said In the post of March 27 X.
“This is not only a victory for us, but for American consumers and we hope that this is a sign that they are left in several states.”
Prosecutor General of South Karolina and a joint decision of Coinbase. Source: South Karolina Prosecutor General
Southern Karolina and Vermont were two of the 10 US states, which undertook legal proceedings against Coinbase joint services on June 6, 2023 – the same day on which the federal securities regulator filed a lawsuit against cryptographic exchange.
The Securities and Exchange Commission officially reflected this process on February 27, 2025.
The other eight US states that have submitted enforcement activities similar to South Carolina are Alabama, California, Illinois, Kentucky, Maryland, Up-to-date Jersey, Washington and Wisconsin.
Grewal said that he hopes that other countries would follow in their footsteps, and that the inhabitants of South Carolina lost about $ 2 million prizes as a result of the trial.
“52 million Americans who owners of cryptocurrencies deserve consumer protection and clear rules,” he said. “We applaud South Carolina for defense of justice and we hope that the other countries with bans will notice.”
South Karolina introduces the Bitcoin reserve bill
Meanwhile, The state legislator has just introduced “Strategic Digital Assets Reserve of South Karolina” on March 27, in which the State Treasurer allocates up to 10% of some state funds for cryptocurrencies such as Bitcoin (BTC).
Unlike most bills for a cryptographic reserve in the USA, North Carolina’s home account 4256, introduced Rep. Jordan Pace, recalled Bitcoin for a strategic digital asset reserve several times, which the project is intended to establish.
Source: Jordan Pace
The bill allows the treasurer of South Carolina, currently Curtis Loftis, establish a Bitcoin reserve, which exceeds no more than 1 million Bitcoins – a high ceiling that the US Federal Government also wants to achieve or exceed the recently established strategic Bitcoin reserve.
The treasurer would be able to add Bitcoin to the General Fund of South Carolina, the budget reserve Fund of all other investment fund he managed.
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Although there is no mention of stableleins, tokens not related to ether (ETH) or any other cryptographic tokens, the House Act stated that the strategic digital asset reserve would not be constrained to bitcoins.
According to For the Bitcoins law, 42 bills for the Bitcoin reserve were introduced at the state level in 19 states, and 36 of these 42 bills remain live.
At the beginning of this month, US President Donald Trump signed an executive order to create a strategic Bitcoin reserve and digital action, which will initially employ the cryptocurrency lost in government criminal matters.
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