Cryptocurrency Exchange Crypto.com Drops SEC Lawsuit After Trump Meeting
Date: 2024-12-19 Author: Gabriel Deangelo Categories: BUSINESS
In October 2024, Crypto.com filed a lawsuit against the SEC, accusing the agency of abuse of power and bias against crypto industry representatives. The reason for the lawsuit was the SEC's warning about possible measures against the company. However, the exchange's management recently changed its position, withdrawing the lawsuit.
The exact reasons for this decision remain unclear, but it became known that Crypto.com CEO Kris Marszalek discussed key issues in the crypto industry with President-elect Donald Trump. During the meeting, topics related to the future of U.S. policy regarding digital assets were raised, including a discussion of a strategy for creating reserves in bitcoin.
Donald Trump has previously demonstrated a positive attitude towards cryptocurrencies, which became one of the features of his election campaign. The new administration, apparently, will continue to adhere to this approach. It is known that the current head of the SEC Gary Gensler will be replaced by Paul Atkinson, who previously held the position in the commission from 2002 to 2008. This move by Crypto.com may indicate hopes for easing regulatory pressure from the new authorities, as well as the possibility of revising approaches to regulating digital assets in the United States.
