The TRON Foundation and its founder, Justin Sun, have formally requested a U.S. Court to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission (SEC), arguing that the SEC does not have jurisdiction over their operations. They claim the sale of TRX tokens was targeted at foreign users on global platforms, entirely outside the United States. The SEC, asserting its regulatory authority, has issued an electronic subpoena to Justin Sun and the TRON Foundation in connection with the case, emphasizing that "SEC IS NOT A WORLDWIDE REGULATOR".
The TRON Foundation and @justinsuntron asked a U.S. Court to dismiss the SEC lawsuit against them stating that the court doesn't have jurisdiction over the foreign defendants, among other reasons. https://t.co/iTIL4KDoo9
The TRON Foundation and @justinsuntron asked a U.S. Court to dismiss the SEC lawsuit against them stating that the court doesn't have jurisdiction over the foreign defendants, among other reasons. By @amitoj https://t.co/ZCu2MKwL5P
JUST IN: @TRONDAO $TRX ASKS COURT TO DISMISS LAWSUIT - "SEC IS NOT A WORLDWIDE REGULATOR"
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,…