Tron Foundation has formally requested the dismissal of a lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC), arguing that the SEC lacks jurisdiction over its digital token sales of $TRX to foreign users on global platforms. The foundation's argument centers on the assertion that its business operations, specifically the sale of TRX tokens, occur outside the United States and therefore should not be subject to U.S. regulations, asserting "The SEC is not a worldwide regulator". This legal move comes after the SEC issued an electronic subpoena to Justin Sun, a prominent figure associated with Tron, as part of its investigation into alleged illegal activities involving the digital assets.
⚖️Tron Foundation wants the SEC's lawsuit against it to be dismissed, arguing that the agency is seeking to apply U.S. regulations to offshore transactions. “The SEC is not a worldwide regulator,” it said 👀 Read More: https://t.co/UUUlEQWGxg https://t.co/34DsAR2zVJ
What happened in Crypto in the last 12hrs…? - $TRX Iron asks court to dismiss lawsuit as “SEC is not a worldwide regulator” - Thailand’s biggest CEX Bitkub to go public in 2025 - $100M of stolen digital assets in March have been recovered - $USDT Tether now holds more than… https://t.co/gAMc0b88Wc
Tron Foundation, the organization behind the Layer 1 blockchain network Tron, has asked the United States Securities and Exchange Commission (SEC) to dismiss a securities lawsuit against the platform https://t.co/142GVpyrne
JUST IN: @TRONDAO $TRX ASKS COURT TO DISMISS LAWSUIT - "SEC IS NOT A WORLDWIDE REGULATOR"
#Tron argues that the SEC has no right to police their business conduct outside the country https://t.co/TQksaUjXAa
Breaking: Justin Sun and @trondao request dismissal of @SECGov lawsuit arguing the #SEC has no authority over global token sales to foreign users, claims $TRX tokens sold outside USA 👀 Subpoena was emailed to Justin Sun and the #Tron Foundation for alleged illegal activities…
Tron requested that the U.S. SEC lawsuit be dismissed, saying it had no authority to govern digital assets sold to foreign users on global platforms. Tron said the sale of the tokens is entirely outside the United States. The U.S. SEC issued an electronic subpoena to Justin Sun,…