#cryptonews
President-elect Donald Trump met with Crypto.com CEO Kris Marszalek this week at his Mar-a-Lago estate in Florida amid the rescindment of the blockchain firm’s litigation against the United States Securities and Exchange Commission (SEC).
According to reports, the pair discussed the development of a federal bitcoin stockpile as well as generating a crypto-friendly regulatory framework. Shortly following the meeting, news broke that Crypto.com had officially dropped a lawsuit filed in October alleging regulatory overreach.
In a December 16 X post by Marszalek, the crypto mogul can be seen standing next to the incoming president with the caption: “honored to have a seat at the table.”
The cryptocurrency exchange’s decision to repeal its lawsuit against the SEC could signal its growing optimism over Trump’s approach to regulating the blockchain sector as a whole ahead of his inauguration next month.
“While this is an unprecedented move for our company to file suit against a federal agency, actions by that agency towards our industry have left us no other choice,” Crypto.com continues.
“Improper SEC enforcement actions are part of the process of operating a legitimate and licensed crypto business in the U.S.,” an October statement from the company announcing legal action against the federal regulator reads in part.
“We will have regulations,” Trump stated at the Bitcoin 2024 Conference this past summer, adding, “but from now on, the rules will be written by the people who love your industry, not hate your industry.”
Trump, who most recently launched his family’s crypto platform World Liberty Financial, has long pledged to enact crypto-friendly regulation in the U.S.