South Carolina withdraws the staking lawsuit against Coinbase, user staking functionality is set to resume soon.

According to Deep Tide TechFlow, on March 28, Coinbase's Chief Legal Officer Paul Grewal announced that South Carolina has just dropped its lawsuit against Coinbase's staking services. This decision is not only a victory for Coinbase but also a victory for American consumers. Paul Grewal expressed hope that other states that still prohibit staking will take note of this positive change.

Due to the staking lawsuit, residents of South Carolina lost approximately 2 million USD in staking rewards. Paul Grewal emphasized that the 52 million Americans who own cryptocurrency deserve reasonable consumer protection and clear rules.