SEC Amends Lawsuit Against Tron Founder Justin Sun, Asserting Jurisdiction

The ongoing legal battle between Tron founder Justin Sun and the United States Security and Exchange Commission (SEC) has taken a new turn as the regulator filed an amended lawsuit against him. The SEC asserts jurisdiction over Sun, citing his extensive travel throughout the country as evidence.

According to the SEC’s amended complaint filed in a Manhattan federal court, Sun’s numerous business trips to cities like New York City, Boston, and San Francisco between 2017 and 2019 totaled over 380 days in the United States. The regulator claims that these trips were conducted on behalf of the Tron Foundation, the BitTorrent Foundation, and Rainberry, all of which are described in the lawsuit as firms representing Sun’s “alter ego.”

The SEC reiterated its initial accusations of the sale of unregistered securities via the Tron and BitTorrent (BTT) tokens, as well as involvement in manipulative wash trading. The regulator emphasized that TRX and BTT were promoted, offered, and sold to consumers and investors in the United States, with Sun traveling extensively to the country during this time.

In response to the SEC’s amended lawsuit, Sun had previously attempted to dismiss the suit, arguing that the regulator lacked jurisdiction over him or the Tron Foundation, headquartered in Singapore. He claimed that the TRX and BTT tokens were sold entirely overseas and took steps to avoid the U.S. market.

With no immediate response from Sun’s legal representatives, the legal battle between the Tron founder and the SEC continues to unfold. Stay tuned for further updates on this developing story.