South Carolina has become the latest US state to reject a lawsuit against Crypto Excination Coinbase because of its exciting services, which accused the exchange of encryption to provide unregistered securities.
The lawsuit was official to reject In a joint condition between the exchange of encryption and the South Carolina Securities Department on March 27.
“South Carolina just joined Vermont to reject an unfounded lawsuit against Coinbase,” the company’s chief legal official, Paul Gharwal, He said On March 27.
“This is not just a victory for us, but for American consumers and we hope it will be a sign that it will come in the few states that left that restricting attention.”
Public Prosecutor at South Carolina and a joint condition between Quebies. source: Public Prosecutor at South Carolina
South Carolina and Vermunt were among the 10 American states that took legal measures against Stank services on June 6, 2023 – on the same day as the Federal Securities Regulator filed a lawsuit against the exchange of encryption.
The Securities and Stock Exchange Committee officially rejected this lawsuit on February 27, 2025.
The other eight American states that submitted enforcement measures such as South Carolina were Alabama, California, Illinois, Kentucky, Maryland, New Jersey, Washington Weskson.
Jarwal said that he hoped to see other states that follow the example, and that the residents of South Carolina have lost an estimated $ 2 million as Stanmers ’rewards as a result of the lawsuit.
He said: “The 52 million Americans have an encoding worth protecting logical consumers and clear rules.” “We salute South Carolina for his support for justice and we hope that the remaining states will notice with the ban.”
South Carolina offers bitcoin reserve bill
During, One of the legislators in the state just submitted a “strategic digital asset reserve law in South Carolina” on March 27, which the state treasurer could see the allocation of up to 10 % of certain funds of cryptocurrencies such as Bitcoin (BTC).
Unlike most of the US encryption bills, the North Carolina 4256 bill, North Carolina 4256, foot By Representative Jordan Pace, Bitcoin mentioned on several occasions of the strategic digital assets reserve that the bill seeks to establish.
source: Jordan’s pace
The draft law, Curtis Loftis, currently provides the construction of Bitcoin, which does not exceed more than a million Bitcoin – a high ceiling that the US federal government is also looking to reach or overcome with a recently created Bitcoin strategic reserve.
The treasurer will be able to add Bitcoin to the General Fund in South Carolina, a budget stabilization fund, that is, another investment fund they run.
Related to: Coinbase Files FOIA to find out the cost of “war on encryption”.
Although Stablecoins, unique, non -applicable, ether symbols, or any other encryption symbols, the draft law said that the strategic digital asset reserves will not be limited to Bitcoin.
According to For the Bitcoin Law, 42 Bitcoin Reservation Bill in the state in 19 states, and 36 of this 42 bill are still in place.
Earlier this month, US President Donald Trump signed an executive order to create a strategic reserve for Bitcoin and digital asset stocks, both of whom will initially use the loss of coded currency in government criminal cases.
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