According to online reports, Paul Grewal, chief legal officer of Coinbase, tweeted that the financial regulatory authority of Vermont in the United States has officially withdrawn its inquiry order against Coinbase regarding its cryptocurrency pledge services. According to official documents released on March 13, the revocation decision does not affect possible further legal actions in the future. Documents show that the main reasons for Vermont's decision to withdraw the inquiry include the SEC's withdrawal of similar charges against Coinbase in the Federal Court for the Southern District of New York, and the SEC's establishment of a new working group to develop regulatory rules related to cryptocurrencies. Coinbase welcomed the move and called on Congress to pass comprehensive cryptocurrency legislation, while encouraging other states to follow Vermont's decision.