<ul><li>Vermont's Department of Financial Regulation has dropped its legal action against Coinbase, following the U.S. Securities and Exchange Commission's (SEC) decision to withdraw its case against the exchange.</li><li>The state's regulatory authority cited the potential introduction of new federal guidelines as a reason for dropping the case.</li><li>Coinbase, which claims that staking is not a security, applauded Vermont's decision and urged other states to follow suit.</li><li>This comes amidst a broader retreat by the SEC from high-profile crypto enforcement cases, following the resignation of former SEC Chair Gary Gensler.</li></ul>

Vermont Ends Coinbase Staking Case, Following SEC’s Decision to Withdraw Lawsuit

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