Crypto.com CEO Meets with President-elect Trump, SEC Lawsuit Dropped

In October last year, the cryptocurrency exchange Crypto.com received a Wells Notice from the U.S. Securities and Exchange Commission (SEC).
The lawsuit was filed after receiving a notice from President-elect Donald Trump on the same day that he met with the president.
On the 17th (local time), Bloomberg reported that US President-elect Donald Trump will meet with the president of the United States to discuss policies that may affect the cryptocurrency industry.
To do so, Crypto.com CEO Kris Marszalek met with his family at his Mar-a-Lago, Florida, home.
According to a post on X (formerly Twitter) on the 16th, CEO Marszalek met with President-elect Trump.
During the meeting, they reportedly discussed a proposal to establish a national Bitcoin reserve and administration appointments related to the cryptocurrency industry.
The meeting took place on the same day that Crypto.com dropped its lawsuit against the U.S. SEC.
On the 16th, to.com announced in documents filed with the United States District Court for the Eastern District of Texas that it would voluntarily withdraw its lawsuit against the SEC and its commissioners.
Prior to this, after receiving the Wells Notice in October last year, CEO Marshalek said, "We are filing a lawsuit against the SEC to protect the future of crypto assets.
A Crypto.com spokesperson said, "We are withdrawing the lawsuit because we intend to work with the next administration to put in place a regulatory framework for the industry."