Paul Atkins

Donald Trump

<p class="is-style-lead">Crypto.com has withdrawn its lawsuit against the U.S. Securities and Exchange Commission, which contested the agency’s jurisdiction over specific digital assets.</p> 
<p>This <a href="https://www.courtlistener.com/docket/69234303/foris-dax-inc-v-us-securities-and-exchange-commission/" target="_blank" rel="nofollow">decision</a> comes after a meeting between <a rel="" href="https://crypto.news/tag/crypto.com/">Crypto.com</a> CEO Kris Marszalek and President-elect Donald Trump at Mar-a-Lago on Dec. 16. The two <a rel="" href="https://crypto.news/bitcoin-reserve-draft-out-trump-meets-crypto-com-ceo/">discussed</a> crypto-friendly policies, including Trump’s proposed national Bitcoin reserve.</p> 
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   <p lang="en" dir="ltr">Honored to have a seat at the table. <a rel="nofollow" href="https://t.co/KvK0XyEdYZ" target="_blank">pic.twitter.com/KvK0XyEdYZ</a></p>— Kris | Crypto.com (@kris) <a href="https://twitter.com/kris/status/1868812557525697004?ref_src=twsrc%5Etfw" target="_blank" rel="nofollow">December 17, 2024</a>
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<p>The lawsuit, initiated in October 2024, <a rel="" href="https://crypto.news/sec-scrutinized-crypto-com-counters-agency-with-lawsuit/">sought to prevent</a> the SEC from expanding its authority beyond statutory limits.&nbsp;</p> 
<p> You might also like: <a rel="" href="https://crypto.news/6-month-jail-term-for-kim-nam-kook-over-cryptocurrency-declaration-fraud/"> Former South Korean lawmaker gets 6-months in jail for lying about cryptocurrency assets </a> </p> 
<h2 class="wp-block-heading" id="wells-notice-response">Wells Notice response</h2> 
<p>Crypto.com filed the suit after receiving a Wells Notice from the <a rel="" href="https://crypto.news/tag/sec/">SEC</a>, indicating potential enforcement action for alleged securities violations. Marszalek responded by emphasizing the need for the SEC to respect court rulings and avoid overreach into the cryptocurrency sector.</p> 
<p>The recent meeting with President-elect Trump appears to have influenced Crypto.com’s decision to drop the lawsuit.</p> 
<p>Trump has <a rel="" href="https://crypto.news/trump-considering-fdic-rebuild-raising-crypto-industry-hopes/">expressed support</a> for the cryptocurrency industry. His administration plans to appoint crypto-friendly individuals to key regulatory positions, including <a rel="" href="https://crypto.news/president-trump-confirms-paul-atkins-as-top-pick-for-sec-chair/">Paul Atkins</a> as SEC chair, signaling a potential shift toward more favorable policies for digital assets.</p> 
<p>In November, FTX filed a lawsuit to recover over $11 million from a Crypto.com account allegedly controlled by its sister company, Alameda Research.</p> 
<p> You might also like: <a rel="" href="https://crypto.news/moonray-is-launching-on-bybit-kucoin-and-gate-io/"> Moonray is launching on ByBit, KuCoin, and Gate.io </a> </p>

Crypto.com drops SEC lawsuit after Trump meeting

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