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Trump Meets with Crypto.com CEO to Discuss Bitcoin Reserve and Crypto Appointments
In a recent meeting at his Mar-a-Lago estate in Florida, President-elect Donald Trump met with Kris Marszalek, the CEO of Crypto.com, to discuss potential appointments related to the cryptocurrency industry and the establishment of a Bitcoin reserve.
According to Bloomberg, citing a source familiar with the conversation, Trump and Marszalek discussed the possibility of appointing individuals who share his enthusiasm for the growth of cryptocurrencies. This move comes as part of Trump’s efforts to strengthen the US position in digital innovation and regulation.
Trump has been increasingly vocal about the potential benefits of Bitcoin, going from being a skeptic to embracing cryptocurrency. He has proposed the establishment of a crypto advisory council and even suggested a strategic Bitcoin reserve. To further solidify his stance on the matter, he has also appointed several crypto advocates to key positions within his administration.
These appointments include Howard Lutnick as commerce secretary and Scott Bessent as Treasury secretary, both of whom have demonstrated their support for the growth of cryptocurrencies. Additionally, Venture capitalist David Sacks will be advising Trump on both artificial intelligence and cryptocurrency matters.
Crypto.com has been actively engaging in legal action against the Securities and Exchange Commission (SEC) over a Wells Notice received by the company. The notice implies that the SEC intends to pursue enforcement actions against Crypto.com, claiming that they have overstepped their legal authority in asserting jurisdiction over nearly all crypto assets.
In response, Crypto.com argues that the SEC’s classification of most crypto transactions as securities is inconsistent and lacks a proper legal basis, especially given that it exempts Bitcoin and Ethereum from this classification. The company has filed a lawsuit against the SEC, as well as a petition with both the SEC and the Commodity Futures Trading Commission (CFTC) to clarify which agency should regulate specific cryptocurrency derivative products.
The meeting between Trump and Marszalek highlights the administration’s commitment to fostering innovation in the crypto space. By engaging with prominent figures like Marszalek, Trump is demonstrating his willingness to listen to industry experts and incorporate their insights into his plans for the future of cryptocurrency regulation.
As the new administration takes office, it remains to be seen how these developments will impact the regulatory landscape for cryptocurrencies. One thing is certain, however – the growing influence of crypto advocates within the administration could bring significant changes to the existing regulatory framework.
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Source: cryptobriefing.com
