Alabama Drops Enforcement Action Case Against Coinbase
In what could be a major development for the cryptocurrency sector, Alabama has officially opted to drop its enforcement action case against Coinbase. The cryptocurrency exchanges’ chief legal officer, Paul Grewal, took to X (formerly Twitter) to announce the update to the ongoing litigation. According to Grewal, that now brings down the list of ongoing staking lawsuits against Coinbase from US states to just five. Indeed, he notes that the exchange is now “halfway there” after the Alabama decision. Moreover, he confirmed that the five dropped lawsuits have all taken place in the last two months. We're halfway there: Alabama just dropped its enforcement action against @coinbase – cutting the number of states with misguided staking suits in half in just two months. 1/3 pic.twitter.com/MWVnl30BTl — paulgrewal.eth (@iampaulgrewal) April 23, 2025 Also Read: Coinbase COIN Stock to Climb 100% After Derivatives Purchase? Alabama Becomes Fifth State to Drop Coinbase Staking La...