Cronos (Cro) clearly increases – SEC is investigating crypto.com
Cronos (Cro), the native token of the stock exchange, recorded a course plan of over 10 %on Thursday after the SEC officially stopped the procedure.
SEC concludes against Crypto.com without legal steps
In an official press release, Crypto.com said that the US stock exchange supervision SEC had ended its investigation against the company-without the initiation of a legal procedure or other legal measures.
This is considered a further success for the crypto industry under the new SEC leadership, which has recently significantly reduced the enforcement of regulatory measures to digital asset companies.
“We welcome the decision of the current SEC management to complete the investigation against Crypto.com without measures or comparison,” said Nick Lundgren, Chief Legal Officer of Crypto.com, in the message.
In August of last year, the SEC initially issued a so -called Wells Notice against Crypto.com, which indicated legal steps against the platform. In response to this, Crypto.com filed a lawsuit against the authority and accused its regulatory arbitrariness.
In December, however, the company voluntarily withdrew his lawsuit – a meeting with the then elected President Donald Trump was preceded by this, shortly before he took office.
The most recent announcement takes place shortly after the message that Trump's media company, the Trump Media & Technology Group (TMTG), has received a partnership with Crypto.com. According to the provisional agreement, the cooperation is planned to build up your own stock market-traded funds (ETFs), whereby Crypto.com should act as an official token supplier.
In the course of the positive news, the cro token rose by over 10 % and recorded an increase of more than 40 % on a week.
At the same time, Crypto.com was criticized again on Monday: The well-known on-chain analyst ZachxBT accused the company to plan the token offer.
Specifically, it is about the potential new edition of 70 billion cro tokens, which have been removed since 2021.
Critics see this a violation of central principles of decentralization and transparency in the crypto sector.
