Crypto.com drops SEC lawsuit after Trump meeting

Daniel

Crypto.com has withdrawn its lawsuit against the U.S. Securities and Exchange Commission challenging the agency’s jurisdiction over certain digital assets.

This decision follows a meeting between Crypto.com CEO Kris Marszalek and President-elect Donald Trump at Mar-a-Lago on December 16. The two discussed crypto-friendly policies, including Trump’s proposed national Bitcoin reserve.

The lawsuit, launched in October 2024, aimed to prevent the SEC from expanding its authority beyond legal limits.

Wells Statement response

Crypto.com filed the lawsuit after receiving a Wells Notice from the SEC stating possible sanctions for alleged securities violations. Marszalek responded by emphasizing that the SEC must respect court decisions and avoid excessive interference in the cryptocurrency industry.

The recent meeting with President-elect Trump appears to have influenced Crypto.com’s decision to drop the case.

Trump expressed his support for the cryptocurrency industry. His administration plans to appoint crypto-friendly individuals, including SEC chairman Paul Atkins, to key regulatory positions, signaling a potential shift toward more favorable policies for digital assets.

In November, FTX filed a lawsuit to recover over $11 million from a Crypto.com account allegedly controlled by its sister company, Alameda Research.

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