Crypto.com has withdrawn its lawsuit against the U.S. Securities and Exchange Commission, marking a significant step in the ongoing regulatory discussion concerning digital assets.
Background of the Conflict
The lawsuit was initiated in October 2024 with the aim to limit the SEC's ability to expand its jurisdiction. This was in response to a Wells Notice from the SEC regarding potential securities law violations.
Meeting with the President
On December 16, Crypto.com CEO Kris Marszalek met with President-elect Donald Trump to discuss U.S. crypto-friendly policies. Marszalek expressed his honor to be part of such discussions.
Future of the Crypto Industry
The decision to withdraw the lawsuit coincides with President Trump's support for the crypto industry and plans to appoint crypto-friendly individuals to key regulatory positions, including Paul Atkins as a potential SEC chair. This might signal more favorable conditions for digital assets.
The withdrawal of the lawsuit and support from the new administration open up prospects for the development and regulation of the crypto industry in the U.S.
