Crypto.com CEO Kris Marszalek met with the U.S. President-elect Trump at Mar-a-Lago in Florida on 12/16 to discuss cryptocurrency-related policies. Coincidentally, on the same day of the talks, Crypto.com also withdrew its lawsuit against the U.S. Securities and Exchange Commission (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 discuss and formulate a cryptocurrency regulatory framework with the Trump administration, and thus chose to withdraw the case.
(Crypto.com received a Wells Notice and has filed a lawsuit against the SEC.)
Trump actively lays out cryptocurrency-friendly regulations, and Crypto.com chooses to participate.
After the election, Trump frequently showed goodwill towards the cryptocurrency industry, not only proposing the establishment of a national Bitcoin strategic reserve but also meeting with cryptocurrency operators to discuss future cryptocurrency-related policies. According to foreign media reports, Trump met with Coinbase CEO Brian Armstrong in November to discuss personnel arrangements, after which he announced the appointment of famous venture capitalist David Sacks, a former member of the 'PayPal Mafia', to serve as the 'AI Crypto Czar', and also nominated former SEC commissioner Paul Atkins to be the new SEC chairman, indicating Trump’s active desire to integrate cryptocurrency 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 regulatory laws through cooperation, rather than continuing to confront the SEC and increase risks. For a well-known exchange, directly participating in policy formulation and even influencing the direction of rules is far more valuable than continuing to struggle with government agencies.
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