Tron Foundation Challenges U.S. SEC Lawsuit on Global Jurisdiction in Token Offering Case 🌐
Tron Foundation is pushing back against the U.S. SEC’s lawsuit that accuses the foundation of conducting unregistered securities offerings. The foundation asserts that the SEC is overreaching its jurisdiction by targeting actions that mainly took place outside the U.S.
Tron Foundation’s Defense Against SEC Lawsuit 🛡️
– Tron Foundation argues that the sale of TRX and BTT tokens was primarily conducted overseas, avoiding the U.S. market
– Tron, headquartered in Singapore, claims that the token sales were outside the SEC’s regulatory scope
– The defense challenges the SEC’s application of the Howey test for defining investment contracts
– Tron refutes claims of market manipulation by Justin Sun and undisclosed token promotions by celebrities
– Tron criticizes the SEC for general and unspecified claims, pushing for dismissal based on the major questions doctrine
– The SEC is expected to respond to Tron’s dismissal motion soon
Current Trading Status of TRX and BTT Tokens 💼
– TRX is trading at approximately $0.1216, down 0.7%
– BTT is trading at around $0.000001571, down 2.8%
Hot Take: Conclusion on Tron Foundation’s Legal Battle 🚀
Tron Foundation’s legal battle against the U.S. SEC showcases the complexities of regulatory oversight in the crypto industry. The outcome of this case could set a precedent for future enforcement actions and jurisdictional disputes within the sector. Stay tuned for updates on Tron’s dismissal motion response and the implications it may have on the global crypto market.
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