BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
FOLLOW
BlockNews
  • Crypto
  • Finance
  • Politics
  • Memecoins
  • NFT
  • Technology
  • Opinion
No Result
View All Result
BlockNews

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

by Matoy
April 19, 2024
in Breaking News, Crypto, Politics
A A
1
SHARES
Share on TwitterShare 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

DON'T MISS THESE! HOT OFF THE PRESS

XRP at a Crossroads: Only Two Ways This Can Go
Crypto

XRP at a Crossroads: Only Two Ways This Can Go

June 20, 2025
Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?
Crypto

Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

June 20, 2025
Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire
Bitcoin

Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

June 19, 2025
SHIB Slides to Two-Month Low as Bears Eye Key Support Level
Crypto

SHIB Slides to Two-Month Low as Bears Eye Key Support Level

June 19, 2025
XRP at a Tipping Point: Breakout or Breakdown?
Crypto

XRP at a Tipping Point: Breakout or Breakdown?

June 19, 2025
Who Will Win the Layer 1 Crypto War? These Are the Chains to Watch Right Now
Cardano

Who Will Win the Layer 1 Crypto War? These Are the Chains to Watch Right Now

June 19, 2025
Load More

Related News

XRP at a Crossroads: Only Two Ways This Can Go

XRP at a Crossroads: Only Two Ways This Can Go

June 20, 2025
Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

Polymarket Thinks US Stablecoin Bill Is a Near Lock—But Will It Actually Pass?

June 20, 2025
Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

Semler Plans 105K Bitcoin by 2027 After Vet Crypto Hire

June 19, 2025
SHIB Slides to Two-Month Low as Bears Eye Key Support Level

SHIB Slides to Two-Month Low as Bears Eye Key Support Level

June 19, 2025
XRP at a Tipping Point: Breakout or Breakdown?

XRP at a Tipping Point: Breakout or Breakdown?

June 19, 2025
Discord Twitter Youtube TikTok Instagram

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 Technology US Web3 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
  • Opinion

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