SEC 權威在 Tron 駁回動議中受到爭議

Tron 基金會向紐約聯邦法院提出駁回動議，質疑美國證券交易委員會 (SEC) 監管其活動的權力。 Tron 辯稱，美國證券交易委員會的訴訟指控未經註冊的證券發行，其重點是超出其管轄範圍的「主要是外國行為」。該基金會堅稱其代幣銷售「完全在國外」進行，並有針對美國市場參與的保障措施。

SEC Authority Challenged in Tron Dismissal Motion

SEC 權威在 Tron 駁回動議中受到挑戰

New York, March 28, 2023 – The Tron Foundation has filed a motion to dismiss a lawsuit brought by the United States Securities and Exchange Commission (SEC), arguing that the regulator lacks jurisdiction over the company's alleged unregistered securities offerings.

紐約，2023 年 3 月 28 日—Tron 基金會已提出動議，駁回美國證券交易委員會 (SEC) 提起的訴訟，稱監管機構對該公司涉嫌未註冊的證券發行缺乏管轄權。

The SEC's lawsuit, filed in March 2022, alleges that Tron, along with its founder Justin Sun, BitTorrent Foundation, and Rainberry Inc., sold unregistered securities in the form of Tron (TRX) and BitTorrent (BTT) tokens. The SEC claims that these tokens were offered to U.S. investors without proper registration.

美國證券交易委員會於 2022 年 3 月提起訴訟，指控 Tron 及其創始人孫宇晨、BitTorrent 基金會和 Rainberry Inc. 以 Tron (TRX) 和 BitTorrent (BTT) 代幣的形式出售未註冊證券。美國證券交易委員會聲稱，這些代幣是在未經適當註冊的情況下向美國投資者提供的。

However, Tron's dismissal motion contends that the SEC's allegations are flawed because the token sales were conducted solely outside the United States. The motion argues that the SEC has no authority to regulate the sale of digital assets to non-U.S. investors on foreign platforms.

然而，Tron 的駁回動議認為 SEC 的指控有缺陷，因為代幣銷售僅在美國境外進行。該動議認為，美國證券交易委員會無權監管在外國平台上向非美國投資者出售數位資產的行為。

"The SEC is not a global regulator," the Tron Foundation asserted in its motion. "Its attempt to extend U.S. securities laws to predominantly foreign conduct goes too far."

「美國證券交易委員會不是全球監管機構，」波場基金會在其動議中聲稱。 “它試圖將美國證券法擴展到主要是外國行為，這太過分了。”

Tron further claims that the tokens were not offered or marketed to U.S. investors and that the SEC has not alleged that any U.S. residents purchased the tokens initially. The company also disputes the SEC's characterization of secondary token sales on U.S.-based platforms as unregistered securities, arguing that such sales are not subject to U.S. securities laws.

Tron 進一步聲稱，這些代幣並未向美國投資者提供或銷售，且 SEC 並未聲稱任何美國居民最初購買了這些代幣。該公司也對 SEC 將美國平台上的二級代幣銷售定性為未註冊證券提出異議，認為此類銷售不受美國證券法的約束。

Furthermore, Tron argues that even if the SEC had jurisdiction, the tokens do not meet the definition of investment contracts under the Howey Test, which is the legal framework used to determine whether an asset is a security.

此外，Tron 認為，即使 SEC 擁有管轄權，這些代幣也不符合 Howey 測試下投資合約的定義，Howey 測試是用於確定資產是否為證券的法律框架。

The Tron Foundation also takes issue with the SEC's allegations of manipulative wash trading and celebrity endorsements. The motion argues that the SEC has not provided specific evidence to support these claims and has failed to identify any victims.

Tron 基金會也對美國證券交易委員會關於操縱虛假交易和名人代言的指控提出異議。該動議認為，美國證券交易委員會沒有提供具體證據來支持這些說法，也未能確定任何受害者的身分。

In addition to these arguments, Tron contends that the SEC's complaint lacks sufficient factual detail and relies on generalizations and conclusions. The company asserts that the SEC has failed to adequately allege the specific roles of each defendant in the alleged misconduct.

除了這些論點之外，Tron 還認為 SEC 的投訴缺乏足夠的事實細節，並且依賴概括和結論。該公司聲稱，美國證券交易委員會未能充分說明每位被告在涉嫌不當行為中的具體角色。

Tron also argues that the case should be dismissed under the major questions doctrine, which limits the ability of regulators to exercise authority that has not been specifically granted by Congress. The company argues that the SEC's attempt to regulate the sale of digital assets outside the United States raises a major question that should be resolved by Congress, not by the agency.

Tron 也認為，根據重大問題原則，該案應該被駁回，該原則限制了監管機構行使國會未特別授予的權力的能力。該公司認為，美國證券交易委員會試圖監管美國境外數位資產的銷售引發了一個重大問題，應該由國會而不是該機構來解決。

The SEC has not yet filed its response to Tron's dismissal motion. The agency has two months to do so.

美國證券交易委員會尚未對 Tron 的駁回動議做出回應。該機構有兩個月的時間來做這件事。

The Tron Foundation's dismissal motion highlights the ongoing debate over the SEC's authority to regulate digital assets. The agency has taken a proactive approach to regulating cryptocurrencies and other digital assets, but some companies argue that the SEC is overstepping its bounds. The outcome of this case could have significant implications for the future of cryptocurrency regulation in the United States.

Tron 基金會的駁回動議凸顯了圍繞 SEC 監管數位資產權力的持續爭論。該機構已採取積極主動的方式來監管加密貨幣和其他數位資產，但一些公司認為 SEC 正在超越其界限。此案的結果可能對美國加密貨幣監管的未來產生重大影響。