SEC 权威在 Tron 驳回动议中受到争议

Tron 基金会向纽约联邦法院提出驳回动议，质疑美国证券交易委员会 (SEC) 监管其活动的权力。 Tron 辩称，美国证券交易委员会的诉讼指控未经注册的证券发行，其重点是超出其管辖范围的“主要是外国行为”。该基金会坚称其代币销售“完全在国外”进行，并有针对美国市场参与的保障措施。

SEC Authority Challenged in Tron Dismissal Motion

SEC 权威在 Tron 驳回动议中受到挑战

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.

纽约，2023 年 3 月 28 日——Tron 基金会已提出动议，驳回美国证券交易委员会 (SEC) 提起的诉讼，称监管机构对该公司涉嫌未注册的证券发行缺乏管辖权。

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.

美国证券交易委员会于 2022 年 3 月提起诉讼，指控 Tron 及其创始人孙宇晨、BitTorrent 基金会和 Rainberry Inc. 以 Tron (TRX) 和 BitTorrent (BTT) 代币的形式出售未注册证券。美国证券交易委员会声称，这些代币是在未经适当注册的情况下向美国投资者提供的。

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 的驳回动议认为 SEC 的指控存在缺陷，因为代币销售仅在美国境外进行。该动议认为，美国证券交易委员会无权监管在外国平台上向非美国投资者出售数字资产的行为。

"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."

“美国证券交易委员会不是全球监管机构，”波场基金会在其动议中声称。 “它试图将美国证券法扩展到主要是外国行为，这太过分了。”

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 进一步声称，这些代币并未向美国投资者提供或销售，并且 SEC 并未声称任何美国居民最初购买了这些代币。该公司还对 SEC 将美国平台上的二级代币销售定性为未注册证券提出异议，认为此类销售不受美国证券法的约束。

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 认为，即使 SEC 拥有管辖权，这些代币也不符合 Howey 测试下投资合同的定义，Howey 测试是用于确定资产是否为证券的法律框架。

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 基金会还对美国证券交易委员会关于操纵虚假交易和名人代言的指控提出异议。该动议认为，美国证券交易委员会没有提供具体证据来支持这些说法，也未能确定任何受害者的身份。

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.

除了这些论点之外，Tron 还认为 SEC 的投诉缺乏足够的事实细节，并且依赖于概括和结论。该公司声称，美国证券交易委员会未能充分说明每位被告在涉嫌不当行为中的具体角色。

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 还认为，根据重大问题原则，该案应该被驳回，该原则限制了监管机构行使国会未特别授予的权力的能力。该公司认为，美国证券交易委员会试图监管美国境外数字资产的销售引发了一个重大问题，应该由国会而不是该机构来解决。

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

美国证券交易委员会尚未对 Tron 的驳回动议做出回应。该机构有两个月的时间来做这件事。

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 基金会的驳回动议凸显了围绕 SEC 监管数字资产权力的持续争论。该机构已采取积极主动的方式来监管加密货币和其他数字资产，但一些公司认为 SEC 正在超越其界限。此案的结果可能对美国加密货币监管的未来产生重大影响。