Crypto.com rescinds lawsuit against SEC after Donald Trump meeting

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 Crypto.com has officially withdrawn its lawsuit against the U.S. Securities and Exchange Commission (SEC) following a high-profile meeting between the company's CEO, Kris Marszalek, and President-elect Donald Trump. The legal battle, initiated in October, challenged the SEC's jurisdiction over digital assets, arguing that the agency had overstepped by classifying many cryptocurrencies as securities. This suit had sought clarity between the SEC and the Commodity Futures Trading Commission (CFTC) regarding oversight of crypto markets.



The timing of the lawsuit's dismissal, shortly after Marszalek's meeting with Trump at Mar-a-Lago, suggests a shift in Crypto.com's strategy. During their discussions, the focus was on creating a crypto-friendly regulatory framework and the development of a federal Bitcoin stockpile. Trump's incoming administration has already signaled support for more lenient crypto regulations, with key figures like Paul Atkins, a known advocate for crypto, expected to lead the SEC​

This development is viewed by many as a sign of optimism within the crypto industry, aligning with Trump's promises to enact policies favorable to digital assets

Also read:Why Trump’s Strategic Bitcoin Reserve Just Got Even More Critical

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