Vermont regulator revokes inquiries about Coinbase on staking services

PANews March 14th news, Coinbase Chief Legal Officer Paul Grewal tweeted that the U.S. financial regulator in Vermont has officially revoked the inquiry order against Coinbase about its cryptocurrency stake (staken) services. According to the official document issued on March 13, the revocation decision does not affect possible further legal action in the future. The main reasons for Vermont's decision to revoke the inquiry order include the SEC's withdrawal of similar allegations against Coinbase in the federal court of the Southern District of New York, and the SEC has set up a new task force to formulate regulatory rules related to cryptocurrencies, the documents show. Coinbase welcomed this and called on Congress to pass comprehensive cryptocurrency legislation while encouraging other states to follow Vermont's decision.