Trump Meets Crypto.com CEO as Exchange Drops SEC Lawsuit
President-elect Donald Trump already met with him to board above policies for national Bitcoin reserve such as with Kris Marszalek of Crypto.com. Coincidentally that day, Crypto.com dropped its SEC lawsuit, signaling a cooperative path forward.
U.S. President-elect Donald Trump has emerged once again in the world of cryptocurrency. Last December 16, Trump welcomed the CEO of Crypto.com, Kris Marszalek, to his estate in Mar-a-Lago, Florida, and merrily resumed the scheme on what can possibly have been Trump’s proposal on declaring a national Bitcoin reserve alongside key personnel appointments meant for the cryptocurrency space.
The meeting coincided with the same day that Crypto.com voluntarily withdrew its lawsuit against the US Securities and Exchange Commission (SEC). The lawsuit was filed in October after Crypto.com was issued a Wells notice, which signifies that there may be an action of enforcement. The case now has been closed “with prejudice,” which means that it cannot be reopened.
A spokesperson of Crypto.com said it was in accordance with the company’s strategy to engage with the incoming administration to “build a regulatory framework for crypto” in the coming years. Trump’s pro-crypto stance had been apparent since November 5 when he won the U.S. presidential elections. He named David Sacks as his “AI and the czar of the crypto” and nominated Paul Atkins for SEC chair as a big appointment for the industry.
In addition to this one, Trump also met with Coinbase CEO Brian Armstrong for topics concerning administration roles in the developing cryptocurrency policy.
Main Points:
- Trump was discussing the national Bitcoin reserve and negotiating crypto-related roles with Marszalek.
- Crypto.com withdrew its SEC lawsuit, preferring to go into partnership with the new regime.
- Trump’s pro-crypto appointees show the increasing support of the industry.
- Under Trump’s guidance, it seems that conditions are shaping up to be friendly towards crypto and these developments could usher in a new era of cryptocurrency regulation and adoption in the United States.
These happenings came to pass during an investigation involving the idea of creating a state-run Bitcoin reserve and relevant arguments between Trump and Marszalek involving both fruitful dialogue and speculated roles concerning crypto.
- These developments happened, and now there is a withdrawal of the SEC suit that Crypto.com preferred to connect up with the new regime.
- The growing support for the industry was made visible through Trump appointing even his pro-crypto appointments.
- As under Trump, conditions are shaping up to be friendly toward crypto, these developments could herald a new era in cryptocurrency regulation and adoption in the United States.
