Summary
The SEC has filed an amended complaint in its lawsuit against Tron founder Justin Sun, arguing that his extensive travel to the U.S. gives the country jurisdiction over the case. The SEC alleges that Sun spent 380 days in the U.S. from 2017 to 2019 and manipulated the market for TRX through wash trading. Sun denies the allegations and claims the lawsuit lacks merit. The SEC asserts jurisdiction over Sun and his firms due to their actions directed towards the U.S. The lawsuit has not affected Sun’s enthusiasm, as Tron recently released a new orchestral piece inspired by him.
Key Points
1. The SEC has filed an amended complaint in its lawsuit against Tron founder Justin Sun, citing his extensive travel to the U.S. as a basis for jurisdiction.
2. The SEC charged Sun and his companies with offering unregistered securities in the form of Tronix (TRX) and BitTorrent (BTT) cryptocurrencies, as well as manipulating the secondary market for TRX through wash trading.
3. Sun has denied the allegations and filed to have the SEC’s lawsuit dismissed, arguing against the jurisdiction and accusing the SEC of overreach in its regulation of predominantly foreign conduct.