BlockNews
FOLLOW ON X
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
  • CRYPTO
  • FINANCE
  • POLITICS
  • MEMECOINS
  • NFT
  • TECHNOLOGY
  • OPINION
No Result
View All Result
BlockNews
Home BREAKING NEWS

SEC Amends Lawsuit Against Tron Founder Justin Sun, Cites Extensive US Travels for Jurisdiction

by Matoy
April 19, 2024
in BREAKING NEWS, CRYPTO, POLITICS
Reading Time: 2 mins read
A A
1
SHARES
19
VIEWS
Share on XShare in TelegramShare on Reddit
  • SEC claims jurisdiction over Tron’s Justin Sun due to his extensive business-related travel in the U.S.
  • Amended lawsuit alleges Sun’s firms engaged in selling unregistered securities and manipulative trading.
  • Sun argues that the activities were mostly conducted overseas and outside U.S. jurisdiction.

The U.S. Securities and Exchange Commission (SEC) has updated its legal action against Justin Sun, the entrepreneur behind the Tron cryptocurrency platform, by emphasizing his frequent travels to the United States. These visits, the SEC contends, allow them to legitimately bring charges within U.S. jurisdiction.

Legal Claims and Business Travels

According to documents filed with a federal court in Manhattan on April 17, the SEC outlines that Sun spent over 380 days in the U.S. from 2017 to 2019, visiting cities like New York, Boston, and San Francisco for business purposes. The regulator alleges that during these visits, Sun was representing his organizations—Tron Foundation, BitTorrent Foundation, and Rainberry—considered by the SEC as closely tied to him, effectively acting as his “alter ego.”

ICYMI: 🇺🇸 SEC has intensified its lawsuit against Justin Sun, citing extensive U.S. visits to assert jurisdiction over allegations involving Tron $TRX

Learn more:https://t.co/lYllGP6VUU

— BlockNews.com (@blocknewsdotcom) April 19, 2024

Allegations and Defenses

The amended complaint by the SEC also revisits claims that Sun and his associated firms sold TRX and BTT tokens, which the SEC classifies as unregistered securities, and engaged in deceptive trading practices to manipulate market prices. Furthermore, it highlights that these promotional activities for TRX and BTT tokens were directed toward U.S. investors, with some transactions purportedly occurring on a Seattle-based cryptocurrency exchange.

In response, Justin Sun, who now holds citizenship in Grenada, filed a motion in late March to dismiss the case. He argues that the SEC’s application of U.S. securities laws is misplaced, given that the transactions in question primarily took place outside the United States and specifically avoided involving U.S. residents. Sun maintains that both TRX and BTT tokens were sold internationally and steps were deliberately taken to prevent their entry into the U.S. market.

This legal challenge is part of ongoing tensions between the SEC and various entities in the cryptocurrency industry, reflecting the broader scrutiny of digital currencies and the regulatory efforts to establish clearer oversight.

Tags: secTron
TweetShareShare
Previous Post

Ripple CTO David Schwartz Discusses Loyalty and Integrity in Recent Online Debate

Next Post

Bitcoin Stability Expected as Institutional Investors Show Limited Selling Pressure

DON'T MISS THESE! HOT OFF THE PRESS

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance
CRYPTO

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing
CRYPTO

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself
CRYPTO

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape
CARDANO

Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape

July 18, 2025
$10 Trillion Asset Manager Charles Schwab Confirms Bitcoin and Ethereum Trading: Here is Why This is Bullish
BITCOIN

$10 Trillion Asset Manager Charles Schwab Confirms Bitcoin and Ethereum Trading: Here is Why This is Bullish

July 18, 2025
Crypto Liquidations Spike Near $1 Billion as Sentiment Flips Bearish: Here is What You Need to Expect
CRYPTO

Crypto Liquidations Spike Near $1 Billion as Sentiment Flips Bearish: Here is What You Need to Expect

July 18, 2025
Load More

Related News

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

President Trump Says Crypto is Good for the Dollar, Claiming Genius Act Will Ensure America’s Dominance

July 18, 2025
President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

President Trump Officially Signs Genius Act Into Law: Here is Why This is Game Changing

July 18, 2025
Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

Trump Signs Genius Act Stablecoin Act, Says They Named the Bill After Himself

July 18, 2025
Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape

Clarity Act Passes House: Cardano Eyes Commodity Status as New Crypto Rules Take Shape

July 18, 2025
$10 Trillion Asset Manager Charles Schwab Confirms Bitcoin and Ethereum Trading: Here is Why This is Bullish

$10 Trillion Asset Manager Charles Schwab Confirms Bitcoin and Ethereum Trading: Here is Why This is Bullish

July 18, 2025
Twitter Telegram Threads

BLOCKNEWS.COM

BlockNews

BlockNews.com is your premier source for real-time cryptocurrency, blockchain, and financial market news.

Our mission is to deliver accurate, timely, and insightful information to help both seasoned investors and newcomers navigate the evolving digital economy.

With in-depth analysis, exclusive insights, and up-to-date news, BlockNews.com keeps you informed on the latest trends in crypto, DeFi, NFTs, tech, and beyond.

Stay ahead of the herd with BlockNews.com

RESOURCES

  • About
  • Contact Us
  • Terms and Conditions
  • Privacy Policy

POPULAR TOPICS

$ADA $XRP AI Avalanche Binance Bitcoin Bitcoin ETF blackrock Blockchain BTC Business Cardano Chainlink China Coinbase Coinglass crypto cryptocurrency Crypto Exchange Crypto Regulation DeFi Dogecoin Donald Trump Elon Musk ETF eth ethereum Federal Reserve FTX grayscale Memecoin metaverse Microstrategy NFT NFTs PEPE ripple sec Shiba Inu Solana Stablecoin US Web3 X xrp

GET QUICKER UPDATES ON X

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.

No Result
View All Result
  • HOME
  • CRYPTO
  • MEMECOINS
  • TECHNOLOGY
  • POLITICS
  • FINANCE
  • NFT
  • DEFI
  • GUIDES

© 2022-2025 BlockNews.com - Crypto and NFT news website by Aiur Labs.