SEC statement from TRON founder Justin Sun
TRON founder Justin Sun has also been added to the people and institutions that the SEC has filed an investment contract lawsuit against. Justin Sun responded to the US Securities and Exchange Commission on Twitter. Stating that the SEC’s recent moves have targeted prominent figures in the crypto money industry, Sun stated that the lawsuit was unfair and used the following statements:
“Today’s complaint by the SEC is the latest example of moves against prominent industry players in the blockchain and cryptocurrency space. We think this move is unfair. The SEC’s regulatory work is still in its infancy and needs serious improvement. That’s clear. Crypto We are ready to work with any government and institution that wants to regulate its field and set transparent rules in this regard. For example, the Dominican Republic accepted TRX and BTT as official currency.”
The U.S. Securities and Exchange Commission sued Justin Sun on Wednesday over allegations of unregistered securities sales and airdropping, fraud and market manipulation. The SEC claimed that TRX and BTT are unregistered securities.
The SEC said in a press release that it has sued Sun, the Tron Foundation, the BitTorrent Foundation, and BitTorrent over the sale of Tronix (TRX) and BitTorrent (BTT) tokens, which it describes as unregistered crypto-asset securities. The regulator also claimed that the defendants “manipulated in a fraudulent manner”.
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