SEC Strengthens Case Against Tron Founder Justin Sun, Citing Extensive U.S. Presence

The SEC has strengthened its lawsuit against Tron founder Justin Sun, claiming that his extensive travel to the U.S., totaling over 380 days between 2017-2019, provides jurisdiction for the case. Sun's alleged promotion and sale of tokens like TRX and BTT in the U.S. further supports the SEC's argument, despite Sun's previous attempts to dismiss the lawsuit based on lack of jurisdiction.

U.S. Securities and Exchange Commission Bolsters Case Against Tron Founder Justin Sun

[Date] - The United States Securities and Exchange Commission (SEC) has strengthened its legal offensive against Tron founder Justin Sun, asserting that his extensive travel to the U.S. subjects him to the regulator's jurisdiction, despite his attempts to dismiss the case.

The SEC alleges that Sun's frequent trips to the U.S. between 2017 and 2019, totaling over 380 days, provide ample grounds for jurisdiction. The regulator claims that these trips, predominantly to major cities such as New York City, Boston, and San Francisco, were made on behalf of the Tron Foundation, the BitTorrent Foundation, and Rainberry, demonstrating Sun's connection to the U.S. and his alleged violations of securities laws.

Furthermore, the SEC accuses Sun of promoting and selling crypto assets such as Tronix (TRX) and BitTorrent (BTT) within the United States, citing his frequent visits to the country as evidence of his involvement in selling these tokens. This assertion bolsters the SEC's argument that it possesses the jurisdiction to pursue legal action against Sun.

In response to the lawsuit, Sun has previously attempted to have it dismissed, contending that the SEC lacks jurisdiction over him and the Tron Foundation, which is headquartered in Singapore. However, the SEC's latest filing refutes Sun's claims, highlight his considerable presence in the United States and his alleged promotion of TRX and BTT tokens to U.S. residents.

This legal battle has significant implications for both Sun and the broader cryptocurrency industry. The outcome will illuminate regulatory oversight and jurisdictional boundaries in the evolving landscape of digital assets, setting a precedent for future enforcement actions. As the legal proceedings continue, the SEC's determination to hold Sun accountable for his alleged violations signals a heightened regulatory focus on the cryptocurrency market.