Coinbase Wins Legal Reprieve as Illinois Drops Staking Lawsuit Amid Regulatory Rethink

In a significant development for the cryptocurrency industry, Illinois has decided to drop its lawsuit against Coinbase regarding the exchange’s staking services. This move follows similar decisions by other U.S. states, indicating a broader shift in the approach to crypto oversight and enforcement tactics.

Illinois Drops Coinbase Staking Lawsuit, Following Other U.S. States

State regulators have dropped legal claims against Coinbase over staking, reflecting a move toward rethinking crypto oversight. Similar decisions across states point to a reassessment of enforcement tactics in digital asset management. The change invites discussion on streamlining regulatory rules to foster a more unified national crypto framework. Illinois is preparing to drop its lawsuit against Coinbase over the exchange’s staking program, following the lead of three other U.S. states that have recently abandoned similar legal actions.

Coinbase Institutional Files for XRP Futures with CFTC

Prominent cryptocurrency exchange Coinbase has shared a bullish update for Ripple’s XRP. The exchange’s derivatives platform has filed with the U.S. Commodity Futures Trading Commission (CFTC) to self-certify futures contracts for XRP. This comes as a major gain for the XRP market and its investors. According to the announcement, the XRP futures will launch on April 21, 2025. As long as Coinbase follows the required guidelines, its self-certification with the CFTC permits it to offer XRP futures contracts.