SEC Revamps Lawsuit Against Tron Founder, “Extensive Travel” Sparks Jurisdiction Claim
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
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 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’s affiliated entities, such as the Tron Foundation and the BitTorrent Foundation, in the lawsuit, claiming they were under his control.
SEC Accuses Justin Sun of Engaging in Manipulative Money Laundering Transactions
In its updated complaint, the SEC restates its allegations against Justin Sun, focusing on the sale of unregistered securities and alleged involvement in manipulative wash trading. The SEC contends that Tron (TRX) and BitTorrent (BTT) tokens were actively promoted and sold to investors in the United States, contradicting Sun’s claims of overseas transactions.
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’s case against the Tron founder and his associated businesses.
