Frequent trips to the US: a new twist in the SEC case against Justin Sun
Date: 2024-04-19 Author: Henry Casey Categories: IN WORLD
The SEC explained why Tron's founder's active visits to the United States could be grounds for legal action.
Delay in claim
In March 2023, the SEC charged Justin Sun and related companies with conducting an unregistered securities offering in the form of Tron and BitTorrent tokens.
The regulator also alleges that Sun and his companies manipulated the secondary market for the TRX token using “wash trading.”
Visits to the USA
In the new motion, the SEC notes that Sun spent more than 380 days in the United States between 2017 and 2019, including in major cities such as New York and San Francisco. The regulator believes that these entrepreneurial trips are intended to harm the United States.
Update on the Bittrex case
The SEC also clarified that the previously unnamed platform mentioned in the lawsuit is the liquidated Bittrex exchange, which was actually located in the United States. Documents related to Sun's companies were signed by him personally.
In 2023, Bittrex and its chairman settled with the SEC for $24 million after unsuccessfully challenging the regulator's authority to regulate cryptocurrencies.
