A spokesperson for Illinois Secretary of State Alexi Giannoulias told CoinDesk that Illinois will soon drop its pledge lawsuit against Coinbase, joining three other U.S. states that recently dropped their lawsuits against the exchange, but declined to comment when asked when the case might be dropped.
Illinois is one of 10 U.S. states to file charges against Coinbase in 2023, alleging that it violated state securities laws through its pledge program. The Securities Exchange Commission (SEC) also alleged that Coinbase's pledge products violated federal securities laws, but dropped the case in February. Since the SEC dropped the case, state securities regulators in Kentucky, Vermont, and South Carolina have also dropped their lawsuits against the exchange.
Illinois to drop pledge lawsuit against Coinbase
2025-04-03 18:54:02
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