{"id":285968,"date":"2024-04-19T13:40:22","date_gmt":"2024-04-19T08:10:22","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=285968"},"modified":"2024-04-19T13:40:22","modified_gmt":"2024-04-19T08:10:22","slug":"sec-revamps-lawsuit-against-tron-founder-extensive-travel-sparks-jurisdiction-claim-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/sec-revamps-lawsuit-against-tron-founder-extensive-travel-sparks-jurisdiction-claim-crypto-news\/","title":{"rendered":"SEC Revamps Lawsuit Against Tron Founder, “Extensive Travel” Sparks Jurisdiction Claim – Crypto News"},"content":{"rendered":"

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The United States Securities and Exchange Commission (SEC) has recently made amendments to its lawsuit<\/a> against Justin Sun, the prominent figure behind Tron. The SEC alleges that Sun was involved in the sale of unregistered securities through Tron (TRX) and BitTorrent (BTT) tokens.<\/p>\n

The regulatory body asserts its jurisdiction over Sun due to his extensive presence within the United States, where he spent over 380 days between 2017 and 2019. These visits included key cities like New York City, Boston, and San Francisco. Furthermore, the SEC has included Sun\u2019s affiliated entities, such as the Tron Foundation and the BitTorrent<\/a> Foundation, in the lawsuit, claiming they were under his control.<\/p>\n

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SEC Accuses Justin Sun of Engaging in Manipulative Money Laundering Transactions<\/h2>\n

In its updated complaint, the SEC restates its allegations<\/a> against Justin Sun, focusing on the sale of unregistered securities and alleged involvement in manipulative wash trading. The SEC contends that Tron (TRX)<\/a> and BitTorrent (BTT) tokens were actively promoted and sold to investors in the United States, contradicting Sun\u2019s claims of overseas transactions.<\/p>\n

Specifically, the SEC points to purported wash trading activities on the Seattle-based crypto exchange Bittrex as evidence against Sun. These accusations form a significant part of the SEC\u2019s case against the Tron founder and his associated businesses.<\/p>\n

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Also Read: Crypto Prices Today April 19: Bitcoin At $62K, Ethereum Nears $2900, SOL Recovers<\/strong><\/a><\/p>\n

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Justin Sun Challenges SEC\u2019s Jurisdiction Claim, Denies Allegations<\/h2>\n

In response to the SEC\u2019s jurisdictional claim, Justin Sun has vehemently denied the allegations. Sun argues that the token sales were conducted entirely outside the United States and did not target the U.S. market.\u00a0He maintains that the SEC lacks authority to assert jurisdiction over him or the Singapore-based Tron Foundation, emphasizing that the alleged securities violations occurred beyond U.S. borders.<\/p>\n

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Despite the ongoing legal battle, Sun\u2019s legal team has yet to provide a formal response to requests for comment. This dispute highlights the complex legal issues surrounding jurisdiction and allegations within the cryptocurrency industry.<\/p>\n

Also Read: Bitcoin Halving: Bitwise CEO Bullish On BTC Price To Hit $100K Post-Having<\/strong><\/a><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

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The United States Securities and Exchange Commission (SEC) has recently made amendments to its lawsuit against Justin Sun, the prominent figure behind Tron. The SEC alleges that Sun was involved in the sale of unregistered securities through Tron (TRX) and BitTorrent (BTT) tokens. The regulatory body asserts its jurisdiction over Sun due to his extensive […]<\/p>\n","protected":false},"author":2,"featured_media":220950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-285968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/285968","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=285968"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/285968\/revisions"}],"predecessor-version":[{"id":285970,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/285968\/revisions\/285970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/220950"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=285968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=285968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=285968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}