Vermont, USA, has targeted the cryptocurrency exchange Coinbase, a “performance reason order” that is said to provide users with unregistered securities through the Strating Service.
Vermont’s Department of Financial Regulation on March 13 Order In view of the SEC Abandoned his case on February 28it will follow suit and cancel actions against Coinbase without prejudice.
“The SEC has announced the establishment of a new task force that provides guidance on enacting rules on cryptocurrency products and services, among other things,” the department said.
Vermont’s financial regulator has decided to stop legal action against Coinbase. source: Vermont’s Department of Financial Regulation
“Given the possibility of dismissing federal action and new federal regulatory guidance, the Division believes that it would be most effective and in the best interest of justice to cancel the pending order of occurrence without bias.”
The Securities and Exchange Commission filed lawsuits in June 2023, Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Vermont, Washington and Wisconsin Initiate legal proceedings against Coinbase.
Performance Order assertion The Coinbase violated the Securities Act by providing engagement to its users without permission and asked the exchange to provide a reason why the court should not touch them with an order directing them to stop the service.
Coinbase Chief Legal Officer Paul Grewal said on March 13 that Vermont has now opted out statement For X, other countries adopt Staking Actions should be “Vermont’s Script Pages.”
source: Paul Grewal
“As we have always said: Staging Services is not securities. We praise Vermont for embracing progress and providing clarity to citizens with digital assets,” he said.
“Our work is not over yet. Congress must seize the bipartisan momentum we see throughout the House and the Senate to pass comprehensive legislation that takes into account novel characteristics of digital assets, such as Stating,” he added.
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