Foundation

BitTorrent

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/sec-intensifies-legal-battle-against-trons-justin-sun-with-new-allegations" rel="noopener noreferrer nofollow">SEC Intensifies Legal Battle Against Tron’s Justin Sun with New Allegations</a><br></p>
<p style="text-align: justify">The U.S. Securities and Exchange Commission (SEC) has escalated its legal challenges against Justin Sun, the founder of the <a href="https://en.bitcoinhaber.net/public-bitcoin-focused-stocks-dip-following-spot-bitcoin-etf-launch" rel="noopener noreferrer nofollow">cryptocurrency</a> platform <a href="https://en.bitcoinhaber.net/stablecoin-market-dynamics-ethereum-slips-while-tron-surges" rel="noopener noreferrer nofollow">Tron</a>. In a recent move, the SEC filed an amended complaint in a federal court in Manhattan, asserting that Sun’s frequent business activities and affiliations with several U.S.-based trips justify the application of U.S. jurisdiction over him and his associated entities. The complaint highlights Sun’s involvement with entities like the Tron Foundation, BitTorrent Foundation, and Rainberry, which allegedly act as his “alter egos.”</p>
<h2 id="extended-stays-and-business-activities">Extended Stays and Business Activities</h2>
<p style="text-align: justify">According to the SEC, between 2017 and 2019, Sun spent over 380 days in the U.S., engaging in business activities primarily in New York City, Boston, and San Francisco. These visits apparently supported his business interests and were strategically planned to foster his ventures within the U.S. market, aligning with the timing of his cryptocurrency offerings.</p>
<h2 id="claims-of-unregistered-securities-and-manipulative-practices">Claims of Unregistered Securities and Manipulative Practices</h2>
<p style="text-align: justify">The regulatory body accuses Sun and his companies of offering and selling unregistered securities linked to the Tron Foundation. Moreover, Sun is alleged to have conducted manipulative wash trading involving <a href="https://en.bitcoinhaber.net/trons-bullish-trend-continues-as-it-breaks-resistance-levels-in-crypto-market" rel="noopener noreferrer nofollow">TRX</a> and BitTorrent (BTT) tokens, potentially misleading investors. This activity reportedly took place on the Seattle-based cryptocurrency exchange Bittrex, signaling a direct involvement within the U.S. financial markets.</p>
<h2 id="considered-points">Considered Points</h2>
<ul style="text-align: justify">
 <li>The SEC emphasizes Sun’s significant presence in the U.S. during critical periods of his business operations.</li>
 <li>The agency links the timing of Sun’s U.S. visits with key operational phases of his cryptocurrency projects.</li>
 <li>Allegations extend beyond mere unregistered securities to include deliberate manipulative trading practices.</li>
</ul>
<p style="text-align: justify">In defense, Sun has countered the SEC’s claims by arguing that the Tron Foundation operates predominantly outside the U.S., specifically from Singapore, and that the activities in question did not target U.S. residents directly. This ongoing legal tussle underscores a significant clash between U.S. regulatory frameworks and international cryptocurrency operations, as regulators intensify their scrutiny of digital financial instruments and their cross-border implications.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/sec-intensifies-legal-battle-against-trons-justin-sun-with-new-allegations" rel="noopener noreferrer nofollow">SEC Intensifies Legal Battle Against Tron’s Justin Sun with New Allegations</a></h5>

SEC Intensifies Legal Battle Against Tron’s Justin Sun with New Allegations

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