- Donald Trump met with Crypto.com CEO Kris Marszalek on Dec. 16 to discuss appointments and his proposed national Bitcoin reserve.
- Crypto.com dropped its lawsuit against the US Securities and Exchange Commission (SEC) on the same day as the meeting.
- Trump has proposed crypto-friendly personnel appointments, including naming David Sacks as his AI and crypto czar and Paul Atkins as his pick for SEC chair.
In a recent turn of events, former United States President Donald Trump had a meeting with Kris Marszalek, the CEO of Crypto.com. This event coincided with the cryptocurrency firm’s decision to drop its lawsuit against the U.S. Securities and Exchange Commission (SEC). The meeting held significant implications regarding national cryptocurrency policies and future industry developments.
Trump and Crypto.com CEO’s Discussion on Cryptocurrency Policies
On December 16, Marszalek met with President-elect Donald Trump at his Mar-a-Lago residence to discuss potential future policies affecting the cryptocurrency industry. The discussions reportedly revolved around Trump’s proposal to introduce a national Bitcoin reserve and the possible appointees in his administration who would be related to the crypto industry.
Crypto.com Drops SEC Lawsuit
On the same day as the high-profile meeting, Crypto.com chose to withdraw its lawsuit against the U.S. SEC. The lawsuit, which was filed in October following a Wells notice indicating potential enforcement action, was voluntarily dismissed by the crypto exchange in the U.S. District Court for the Eastern District of Texas. The decision to drop the lawsuit was influenced by Crypto.com’s desire to cooperate with the incoming administration on a regulatory framework for the industry.
Trump’s Appointments Favoring the Cryptocurrency Industry
Since winning the U.S. presidential election on November 5, Trump has been hinting at appointments that suggest a favorable disposition towards the cryptocurrency industry. Before the election, Trump launched his own digital asset project, World Liberty Financial. Besides Marszalek, Trump also had discussions with Coinbase CEO Brian Armstrong about prospective personnel appointments. Since then, Trump has announced the appointment of David Sacks, former PayPal chief operating officer, as his AI and crypto czar and former commissioner Paul Atkins as his choice for SEC chair.
Conclusion
The meeting between Trump and Marszalek, along with Crypto.com’s decision to drop its lawsuit against the SEC, marks a significant development in the U.S. cryptocurrency landscape. It reflects the changing attitudes towards digital currencies and the growing acceptance of their role in the country’s financial ecosystem. These developments could potentially shape the future of the cryptocurrency industry and its regulatory environment in the U.S.
