TRON

<ul><li>The judge denies the SEC&#39;s motion to expedite Tron&#39;s securities fraud proceedings.</li><li>Tron&#39;s defense argues that TRX and BTT sales fall outside SEC jurisdiction.</li><li>SEC alleges new legal arguments were introduced improperly in Tron&#39;s defense.</li></ul><p>A federal judge in New York has denied the<a href="https://www.courtlistener.com/docket/67071330/73/securities-and-exchange-commission-v-sun/" rel="noopener noreferrer nofollow"> SEC&#39;s request</a> to speed up its lawsuit against the Tron Foundation and Justin Sun. The decision halts the SEC&#39;s efforts to resolve procedural issues early in the case and marks a setback to the regulator. This case unfolds in the U.S. District Court for the Southern District of New York.</p><h2 id="header-0">SEC&#39;s Motion Rejected</h2><p>The SEC aimed to organize a pre-trial conference or mandate an extra filing. They accused Tron of unexpectedly introducing new arguments in their defense. According to the SEC, Tron argued that TRX and BTT sales did not meet the &#39;common enterprise&#39; criterion. The Howey Test uses this criterion to determine if a transaction qualifies as an investment contract. The SEC argued that this defense appeared only after Tron had moved to dismiss the case on May 30.</p><h2 id="header-1">Arguments Over the Howey Test</h2><p>The <a href="https://cryptotale.org/is-the-sec-overconfident-xrp-says-no-with-price-action/" rel="noopener noreferrer nofollow">SEC</a> filed for a pre-trial conference and permission to file additional responses. It targeted <a href="https://cryptotale.org/justin-sun-transfers-156-4m-btc-amid-custody-change/" rel="noopener noreferrer nofollow">Justin Sun,</a> the BitTorrent Foundation, and Rainberry Inc. The agency claimed the defendants had shifted their legal strategy. This concerns the &#39;common enterprise&#39; element of the Howey Test, used by <a href="https://www.courtlistener.com/docket/67071330/55/securities-and-exchange-commission-v-sun/" rel="noopener noreferrer nofollow">U.S. securities laws</a> to identify investment contracts.</p><p>The SEC requested to either dismiss this new argument or to allow them to submit a supplemental reply about it. The judge, however, rejected these requests, finding no basis for the SEC&#39;s claims of a shifted argument regarding the Howey Test&#39;s &#39;common enterprise&#39; element.</p><p><a href="https://cryptotale.org/judge-denies-secs-request-to-expedite-case-against-tron/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a></p><p><strong>Visit the links for more information </strong><a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|</p>

Judge Denies SEC’s Request to Expedite Case Against Tron

Table of Contents

CryptoTale

Other articles published on Aug 20, 2024

Ripple News Today: How the SEC Settlement Could Lead to XRP ETF?

Altcoins Poised for Movement

Superstate Integrates Chainlink to Boost Transparency of USTB Tokenized Fund

Former TON Foundation Leaders Introduce $40M Fund TON Blockchain Growth

Mango Markets DAO votes to settle with SEC for $223K

Crypto super PAC Fairshake just lost a billionaire Dem donor: Report

Join our free newsletter for daily crypto updates!