CoinVoice recently learned that according to Cointelegraph, Crypto.com's chief legal officer Nick Lundgren said that the recent ruling against the U.S. Securities and Exchange Commission (SEC) provides a "strong legal basis" for its lawsuit against the regulator. Crypto.com filed a lawsuit after receiving the SEC's Wells Notice, claiming that the SEC's actions were "unauthorized and unfair regulation."

In recent years, the crypto industry has achieved some major victories in its legal battles with the SEC, such as Grayscale Investments winning a lawsuit in August 2024 to transform its Grayscale Bitcoin Trust (GBTC) into a spot Bitcoin exchange-traded fund (ETF).

In addition, a July 2023 ruling determined that XRP is not a security when sold on a digital asset exchange. Crypto.com's Wells notice does not mean it must cease operations in the United States, and it still provides services in 49 states and has its headquarters in Texas. [Original link]