Catenaa, Friday, December 20, 2024 – Crypto.com has withdrawn its lawsuit against the US Securities and Exchange Commission (SEC) amid revelations that CEO Kris Marszalek met with President-elect Donald Trump to discuss cryptocurrency regulations and the potential establishment of a national Bitcoin reserve.
Bloomberg citing an anonymous source reported that Trump and Marszalek met at Mar-a-Lago to address government appointments related to digital assets and strategic Bitcoin policy.
Crypto.com confirmed its intention to advise Trump’s team on regulatory frameworks, which led to the voluntary withdrawal of its October lawsuit against the SEC.
The firm’s lawsuit had accused the SEC of overreaching its authority in its approach to digital assets, echoing grievances from other crypto entities and lawmakers.
Trump’s campaign promises to designate Bitcoin as a strategic reserve asset have gained momentum. On Dec. 12, he affirmed his support for a national Bitcoin reserve, which the Bitcoin Policy Institute has drafted into an executive order proposal.
State-level initiatives are following suit. Ohio’s House Republicans introduced a bill to create a Bitcoin reserve, while lawmakers in Texas, Alabama, and Pennsylvania have made similar moves. Other nations, including Japan, Russia, and Argentina, are also exploring national Bitcoin reserves.
