Coinbase News: Cryptocurrency Exchange Cleared in South Carolina Staking Lawsuit

Coinbase has secured another legal victory, this time in South Carolina, where a lawsuit accusing the cryptocurrency exchange of offering unregistered securities has been dismissed.

Coinbase Cleared in South Carolina Staking Lawsuit

South Carolina has dismissed a lawsuit against cryptocurrency exchange Coinbase, accusing it of offering unregistered securities. The dismissal comes as a joint agreement between the state’s Attorney General’s securities division and Coinbase, marking another victory for the exchange following a similar case dropped by Vermont earlier this month. Paul Grewal, Coinbase’s chief legal officer, celebrated the decision, stating that it is not just a victory for the exchange but for American consumers. South Carolina was one of ten states that took action against Coinbase in June 2023 over its staking rewards program.

UK Regulator Plans to Authorize Crypto Firms in 2026

The U.K.’s crypto industry has just over a year to prepare for a stricter regulatory regime. Matthew Long, director of payments and digital assets at the U.K.’s Financial Conduct Authority (FCA), revealed in an interview with CoinDesk that the impending gateway regime set for 2026 will be a new authorization regime for crypto companies. Long explained that the FCA will have to go through consultations, create rules, and obtain legislation for this new regime, which will be a significant leap from the current anti-money laundering (AML) regulations. Crypto exchanges such as Coinbase, Gemini, and Bitpanda will be among those affected by this change.