The Alabama Securities Commission has officially withdrawn its legal action against Coinbase over the exchange’s staking program, reducing the number of active state-level lawsuits from 10 to five.
According to the April 23 consent order signed by Commission Director Amanda L. Senn, the agency partially withdrew its enforcement effort to allow time for evolving policy discussions.
Procedural pause
The order cited the US Securities and Exchange Commission’s (SEC) announcement of a new crypto-focused task force and expectations for guidance on regulatory frameworks, including those governing staking services.
The Commission emphasized that its withdrawal did not reflect a change in its legal position or broader regulatory posture.
Instead, the decision was framed as a procedural pause, allowing room for emerging federal standards to take shape. Coinbase consented to the order, with both sides agreeing to bear their own legal costs.
Coinbase chief legal officer Paul Grewal respo
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