The regulatory authority of Vermont, USA, has withdrawn the lawsuit against Coinbase's staking services.

Wu said that Coinbase's Chief Legal Officer Paul Grewal tweeted that the state of Vermont has officially withdrawn its lawsuit against Coinbase's staking services. According to an official document released on March 13, the main reasons for Vermont's decision to withdraw the inquiry include the SEC's dismissal of similar charges against Coinbase in the Southern District of New York federal court, as well as the SEC's establishment of a new working group to formulate regulatory rules related to cryptocurrencies. It is worth noting that this withdrawal does not preclude possible future legal actions.