Crypto.com CEO Kris Marszalek met with President-elect Trump at Mar-a-Lago in Florida on December 16 to discuss cryptocurrency-related policies. Coincidentally, on the same day as the meeting, Crypto.com withdrew its lawsuit against the SEC.
Marszalek met with Trump and withdrew the lawsuit against the SEC on the same day.
As early as October this year, Crypto.com announced it would sue the SEC to 'defend the future of the cryptocurrency industry' after receiving an enforcement warning from the SEC, known as a Wells Notice. However, according to foreign media quoting Crypto.com's official statement, due to the new government's active willingness to cooperate, Crypto.com hopes to work with the Trump administration to discuss and establish a cryptocurrency regulatory framework, thus choosing to withdraw the lawsuit.
(Crypto.com received a Wells Notice and filed a lawsuit against the SEC)
Trump actively positions for cryptocurrency-friendly regulation, and Crypto.com chooses to participate.
After the election, Trump frequently showed goodwill towards the cryptocurrency industry, proposing to establish a national Bitcoin strategic reserve and meeting with cryptocurrency operators to discuss future cryptocurrency-related policies. According to foreign media reports, Trump had discussions in November with Coinbase CEO Brian Armstrong regarding personnel arrangements, and subsequently announced the appointment of renowned venture capitalist David Sacks, who was formerly part of the 'PayPal Mafia', as the 'AI Crypto Czar', and also nominated former SEC commissioner Paul Atkins to serve as the new SEC chairman, indicating Trump's active desire to incorporate cryptocurrencies into the core of future policies.
The meeting between Trump and Crypto.com CEO Marszalek led Marszalek to decide to withdraw the lawsuit against the SEC, possibly hoping to participate in the formulation of new cryptocurrency regulations through cooperation rather than continuing to confront the SEC and increasing risk. For a well-known exchange, directly participating in policy-making and even influencing the direction of rules is far more valuable than continuing to battle with government agencies.
This article about Crypto.com CEO meeting Trump to discuss cryptocurrency regulation and withdrawing the lawsuit against the SEC was first published by Chain News ABMedia.
